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FINANCIAL NEWS
UAE’s Du to invest USD462m in new projects
17 Aug 2011
(MENAFN) Du’s CEO, Othman Sultan, said that after the telecommunication operator paid back its debt to banks, in 2011, the UAE firm would invest USD462 million in new projects, reported Emirates 24/7.
Sultan added that in the period, the firm would work on developing 3G and 4G systems; moreover, it would enhance network coverage and update its mobile phone internet facility.
He also said that du received fresh liquidity from profits in addition to a USD272 million from shareholders, furthermore, in June, the company was able to complete the payment of a USD816 million loan.
It is worth noting that the new investment the company will launch this year will be related to new mobile and fixed line network projects.
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