Telenor Group has plans to invest 80 million dollars in Pakistan for network expansion, revealed Daily Times citing unnamed Telenor official.
Though not high numbered, but this is a long awaited investment inflow for Pakistani market, and easily the highest by a single company in last 9 months.
It merits mentioning here that total FDI during July 2009 to July 2010 is recorded as $205.4 million compared to $736 million during same period of last year.
ProPakistani was able to confirm this fund injection from a Telenor official this morning.
Reportedly, this investment will be spent on various existing and upcoming projects related to network infrastructure expansion. Number of cell sites, franchises and other infrastructure related projects will be accomplished.
2 years ago Telenor had intended $500 million dollars investment for Group’s Pakistani arm, only if it was granted 3G license. However, delay in 3G has halted many things along with a turn in investment plans of the cellular companies.