http://www.dailytimes.com.pk/default.asp?p...0-12-2005_pg5_7


Tuesday, December 20, 2005

Telecom firm to invest $500m more

Staff Report

ISLAMABAD: The Chairman of Orascom Telecom, Naquib Sawaris, has said his group will invest $500 million in 2006 in Pakistan keeping in view the healthy economic growth being made by the country.

Speaking at a press conference here on Monday, he reaffirmed the Egyptian telecommunications company’s future business commitments in Pakistan.

Flanked by Zouhair A Khaliq, president and CEO Mobilink Pakistan, he said total investment by Mobilink exceeds $1.2 billion making the company one of the largest foreign investors in the telecom industry of Pakistan.

“Mobilink plans to invest 500 million US dollars in 2006. We are strengthening our existing commitments in the telecommunications sector, which is hugely untapped as only 11.95 percent Pakistanis have cellphones. We are moving ahead and seeking new opportunities in Pakistan,” he said. Mobilink has more than 10 million subscribers in Pakistan, he added.

Mobilink has launched its own optic-fibre cable laying project which will give the company independence from relying on any other carrier for its telecom services.

The TWA and Orascom joint venture of undersea cable project that will terminate in the Arabian Sea off the coast of Karachi connecting Pakistan to the rest of world is near completion, he added.

Mr Sawaris said that Orascom group has also diversified its investment portfolio in Pakistan by investing in other sector such as cement manufacturing and construction works through Orascom Industries, a sister concern of Orascom. He congratulated the Mobilink on its landmark achievement of exceeding 10 million customers. “We are looking forward to closing the year with 11 million customers,” he said.

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http://www.dawn.com/2005/12/20/ebr18.htm


Cellphone firm plans to invest $500m




By Our Staff Reporter

ISLAMABAD, Dec 19: A leading cellular mobile telephone company plans to invest $500 million during the year 2006, taking its total investment in the country to well over $1.75 billion by the year end.

“We have been encouraged by the positive economic and infrastructure development trends in Pakistan and have decided to raise the level of our investment portfolio in Pakistan,” Chairman Orascom Telecom, Naguib Sawiris told reporters here on Monday soon after his meeting with Prime Minister Shaukat Aziz.

Mr Sawiris was flanked by president and CEO of Mobilink Pakistan Zouhair A. Khaliq during a news conference at a local hotel.

About the quality of service issue, Mr Sawiris, who is on a short visit to Pakistan, said Mobilink had launched its own fibre optic cable laying project which would provide the company independence from relying on other carrier (Pakistan Telecommunication Company Limited) for its telecom services.