Du to invest Dh2bn - Emirates24|7

Du to invest Dh2bn

(GERMAN FERNANDEZ)

Telecom operator du plans to invest Dh2 billion in developing its network infrastructure across the UAE this year, its chief executive said yesterday.

"When we launched our mobile services two years ago we were lagging behind but now we are in a much better shape," Osman Sultan told Emirates Business after the firm announced its first annual profit for 2008.

"Capital expenditure was raised to Dh2bn in 2008 and we are planning to spend the same in 2009," he said.

A large part of the 2008 budget was spent on building new base stations to expand coverage and capacity across the country, "which enabled the company to provide improved access to its services", Sultan said.

The economic slowdown has not affected du's investment in infrastructure, he said, but the company "will be cautious" going forward.

"Looking at the impact of the situation we need to be cautious and fuel our growth through sustainable profitability. The telecom industry will definitely be affected but we have to continue to invest to protect shareholders and consumers.

"We will use available resources to invest in priority projects," the chief executive said.

 

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