Aboitiz Group unit, DICT sign MOU for telco common tower
MANILA, Philippines — Aboitiz InfraCapital, the infrastructure business unit of the Aboitiz Group, signed on Thursday a Memorandum of Understanding with the government for the company’s bid to build, operate and maintain a network of telecommunication towers in the Philippines.
In a statement, Aboitiz InfraCapital said the MOU — which recognized the company as a potential common tower provider — would pave for the expansion of the capabilities of both current and future telecommunications companies, as well as improve the connectivity of the country’s cellular network.
The preliminary agreement was signed by Information and Communications Technology Acting Secretary Eliseo Rio Jr. and Aboitiz InfraCapital Chief Operating Officer Cosette Canilao.
“This MOU simply states DICT recognizes Aboitiz as capable, and that it has the financial capacity to invest in towers that it can lease to the telecommunication companies…we want to have better telecom services within our lifetime, and we are hoping to have 50,000 towers in seven to 10 years,” Rio said.
Aboitiz InfraCapital, through its sister company AboitizPower, seeks to provide the expertise to find solutions for the power requirements of the cellular towers.
Part of Aboitiz InfraCapital's responsibilities is to secure a binding contract with telco operators in the country. Once this is secured, a Memorandum of Agreement will be discussed with DICT. — Ian Nicolas Cigaral
- Latest
- Trending
