OTE Group said it was raising its investments to 1.5 billion euros for the development of new generation networks in fixed and mobile telephony in the four-year period from 2017 to 2020.
“Despite difficult economic conditions, the Group raises its investment plan by 200 million euros, expanding its fiber optics network and contributing to the technological development of the country. Having invested more than 2.0 billion euros in the previous six years, the Group is by far the largest investor in telecoms infrastructure in Greece. These figures do not include additional investments on spectrum and TV services,” OTE said in an announcement.
Mihalis Tsamaz, chairman and chief executive of OTE Group, said: “We are creating the networks of the future, that will cover the needs of households and enterprises in a modern digital era. We contribute in a national effort for recovery, developing infrastructure that will give a boost to the Greek economy and will create growth prospects. It is our strategic decision to raise our investments to 1.5 billion euros by the end of 2020, so that the country achieved the goals set by the EU in broadband. With technology we seek to build a better world for all”.
OTE plans to further develop its new generation networks, increasing population coverage, speeding up mobile interest speeds and offering new possibilities and services.
In the fixed telephony, OTE Group plans to bring the “Fiber to the Home”, offering super-high speeds through the vectoring technology.
In the mobile telephony, OTE Group has achieved a population coverage of 93 pct in its Cosmote 4G network, remaining ahead of competition, and a coverage rate of 82 pct in its 4G+ network.
OTE Group will complete a Rural Broadband project this year offering broadband services to 2,247 remote regions in Northern and Southern Greece, and a transformation of the fixed telephony network to AII IP throughout its infrastructure and services.