Telecom Egypt to invest USD450m in 2015

10 Mar 2015

(MENAFN) According to Telecom Egypt’s chief executive officer, the fixed-line monopoly plans capital expenditure of USD450 million in 2015, focusing mainly on building its network, Reuters reported.

The firm, in which the Egyptian government owns an 80 percent stake, reported a 31.4 percent fall in profit for 2014, when compared to a year before.

The chief executive added that the spending represented “an all-time high for capex” after the firm invested USD293.94 million in 2014, an investment significantly lower than this year.

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