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FINANCIAL NEWS
Qatari Ooredoo to invest USD274m in fibre optic network by 2014’s end
19 Jun 2013
(MENAFN) Qatari telecommunications giant Ooredoo’s chief operating Officer, Waleed Al Sayed, stated that the company plans on investing more than USD274 million in developing the country’s fibre optic network by the end of next year, reported Arabian Business.
AL Sayed also said that by the end of 2014, the company formely known as Qtel plans on haVing all homes in Qatar connected to the fibre optic network.
The chief operating Officer added that Ooredoo was on the right path towards acheiving that goal, judging by the figures which show that 33 percent of total homes were passed by Fibre since its launch in 2011, plus a 6.3 percent of homes added to the network per year.
It is worth noting that the state-backed telecommunications operator which has business in 16 countries across the Middle East, Africa and Asia, reported a net profit of USD222 million in the first quarter of 2013.
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