Fledgling Philippines-based operator Dito Telecommunity announced more than PHP50 billion ($971 million) has been attained and will be pumped into expanding its network this year.
In a virtual conference, Dito chief administrative officer Adel Tamano said PHP27 billion as earmarked for network expansion, and the funding will come from equity and debt, reported the Philstar.
Chief technology officer Rodolfo Santiago revealed the bulk of capex will be spent on the network expansion with the aim to boost coverage in the Philippines.
He said the “major components” of its rollout his in the “final stages”, and major builds such as its 10 regional data centres, submarine cables and additional towers will be constructed.
The operator is working on an annual technical audit in July where it is aiming to achieve 70% population coverage and a minimum average speed of 55Mbps.
The company has six million subscribers and aims to double that figure by the end of the year. The new operator launched commercially in March 2021, fulfilling government desires for a third mobile player in the country.
Dito Telecommunity is a joint venture between businessman Dennis Uy and China Telecommunications. It was awarded its licence and frequencies in 2019.
