PLDT to invest record-high PHP 92 billion for network expansion in 2021

Pangilinan-led PLDT is looking to spend as much as PHP 92 billion next year as the Duterte administration demands telco players to further improve their services. 

File photo: PLDT logo

PLDT sets record capex for 2021

Alfredo Panlilio, PLDT chief revenue officer and Smart Communications President and CEO, said the group may invest between PHP 88 billion to PHP 92 billion in 2021. 

PLDT's spending commitment for 2021 is 20 to 25 percent higher than this year's P70 billion, the official said. 

He noted the majority of the capital expenditures would be earmarked to finance the expansion of PLDT's fiber footprint and wireless coverage. 

With the surge in demand for data, we are prepared to invest between P88 billion and P92 billion next year to meet the requirements of all our mobile and fixed-line customers, Panlilio said.

The PLDT executive reiterated that the group has already spent around PHP 260 billion in the last five years to boost its network infrastructure. 

We want to benchmark ourselves, not just with local competition, but with our neighboring countries like Thailand and Vietnam, as we would want our network performance to ultimately be at par with global companies. This is our aspiration, to really bring that level of service to the Filipino people, Panlilio said.

To compete in the global scene, its wireless unit is eyeing to deliver at least 30 megabits per second (Mbps) of broadband speed to its customers in Metro Manila and key cities next year. 

Via: Philippine Star