|22 December, 2019

Etisalat Misr plans to invest $280mln in 2020

Most of these investments will be pumped into the data transfer sector

Image used for illustrative purpose. The Etisalat logo is seen at the Mobile World Congress in Barcelona, Spain, February 26, 2018. Image used for illustrative purpose.

Image used for illustrative purpose. The Etisalat logo is seen at the Mobile World Congress in Barcelona, Spain, February 26, 2018. Image used for illustrative purpose.

REUTERS/Yves Herman

Cairo – Mubasher: Etisalat Misr aims to inject EGP 4.5 billion worth of investments in 2020, the company’s chief corporate affairs officer, Khaled Hegazy, said.

Most of these investments will be pumped into the data transfer sector, Hegazy added on the sidelines of Ahram Economic Conference on Sunday.

In 2019, Etisalat Misr has invested a total amount of EGP 4 billion, he revealed.

The telecom operator signed a new agreement with the New Administrative Capital Company earlier in December to establish a control centre, Hegazy added.

Since the beginning of its operations in Egypt, the coompany’s investments has exceeded EGP 50 billion.

During the first half of 2019, Etisalat Misr reported revenues of EGP 7.14 billion, compared to EGP 6 billion in the year-ago period.

Source: Mubasher

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