Dubai-based du to invest $600m in telecom network

24/02/2010 - Dubai Investment News
Dubai-based du to invest $600m in telecom network
Posted by Bob Brunskill

Dubai-based telecom group du has announced it will invest around US$600 million in expanding its network in the emirate this year.

The announcement came after the firm revealed that its net profit more than doubled during the fourth quarter of last year.

Du said that the profit surge was down to a sharp increase in mobile subscribers.

"Over the year, we have added a further 1.01 million customers with our total active subscriber base at 3.47 million," said chief executive Osman Sultan.

The company invested about Dh 2.4 billion in building its mobile, broadband and fixed network last year and its investment programme for 2010 will exceed Dh 2.2 billion, Mr Sultan added.

He said that the firm was planning to expand more aggressively to other emirates beyond its primary market in Dubai.

Last week, the Dubai Chamber of Commerce & Industry pledged to support the business community in the region as the UAE recovers from the effects of the global financial crisis.
There’s never been a better time to invest in Dubai, say industry heavyweights heading to this month’s Cityscape Global Conference. Invest in your Future - Click here to learn more.