Telecom Egypt targets $511mn investments to upgrade infrastructure

Telecom Egypt targets injecting investments worth 4 billion Egyptian pounds (US$510.8 million) within the upcoming period to upgrade its cables, Communications and Information Technology minister Khaled Negm said Monday.

In the last two years, Telecom Egypt has pumped 2.2 billion Egyptian pounds among its plan to replace copper cable with fiber optics.

Negm asserted that the Egyptian market does not need establishing new company to provide mobile operators with infrastructure services.

Communication ministry aims at improving the investment climate between Telecom Egypt – infrastructure owner- and other companies to meet its needs of cables and infrastructure under the supervision of the National Telecommunication Regulatory Authority (NTRA).