TE Plans To Invest EGP 4 Bln For Spreading High-Speed Internet: CEO

Telecom Egypt (TE) plans to pump investments with EGP 4 billion in order to provide high-speed internet in the country.

Mohamed Al-Nawawi, CEO of Telecom Egypt (TE), has emphasized to Anadolu Agency that (TE) intends to contribute with EGP 4 billion of the government’s strategy in the first phase of the project.

Al-Nawawi added that his company will implement the first phase after it will obtain licenses for integrated telecom that allow to operate mobile phone services, and we seek to modernize the infrastructure of (TE) by investments and make the best use of internet services in fixed and mobile phone services.

The strategy of government includes total investments with $ 6.7 billion till 2018, as well as the private sector will contribute with 80% of the total investments which scheduled to cover 100% of the country with high-speed internet services, and the government will bear the rest cost.

Eng. Atef Helmy, Egypt’s Information and Communication Technology (ICT) Minister, said Yesterday in the conference concerning spreading high-speed internet strategy in Cairo, the first phase will raise the development in (ICT) Sector within 2 years with 6%.