T-Faz
RETIRED MOD
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ISLAMABAD, April 2 (Reuters) - Chinese telecom giant, China Mobile (0941.HK: Quote, Profile, Research), will invest $300 million in Pakistan in 2010, mainly on expansion of its infrastructure in the south Asian country, a company spokesman said on Friday.
Pakistan's telecom sector has boomed over the past 10 years and now has over 95.40 million mobile phone users, from some 300,000 in 2000, with cellular mobile density of over 58 percent, according to its state telecommunication authority.
But growing concerns over a Taliban insurgency and chronic power shortages have put off investors, with net foreign investment down 45.9 percent to $1.02 billion in the first eight months of the 2009/10 fiscal year.
China Mobile, which operates in Pakistan through its overseas subsidiary, China Mobile Pakistan, has some 6.93 million subscribers in Pakistan, according to the Pakistan Telecommunication Authority (PTA) website (Pakistan Telecommunication Authority).
The company's chairman, Wang Jianzhou, was in Pakistan this week where he met government officials to discuss expansion and investment plans, said the spokesman of the company known in Pakistan by its brand name of Zong.
"During the visit Mr Wang made the announcement that for this year our investment in Pakistan will be $300 million," the spokesman said.
Last year, China Mobile's investment in Pakistan was $500 million, while total investment in the country has reached $1.66 billion, he said.
Pakistan's mobile operators include CM PAK of China Mobile, Mobilink, a unit of Egypt's Orascom Telecom (ORTE.CA: Quote, Profile, Research), Norway's Telenor (TEL.OL: Quote, Profile, Research), Ufone, a subsidiary of Pakistan Telecommunication Co Ltd (PTCA.KA: Quote, Profile, Research), Warid Telecom Pakistan, a joint venture between Abu Dhabi Group and SingTel Group (STEL.SI: Quote, Profile, Research), and Instaphone, which is not publicly traded.
Mobilink has the largest share with 31.06 million subscribers, according to the PTA website. (Reporting by Augustine Anthony; Editing by Muralikumar Anantharaman)
China Mobile to invest $300 mln in Pakistan-spokesman | Reuters
Pakistan's telecom sector has boomed over the past 10 years and now has over 95.40 million mobile phone users, from some 300,000 in 2000, with cellular mobile density of over 58 percent, according to its state telecommunication authority.
But growing concerns over a Taliban insurgency and chronic power shortages have put off investors, with net foreign investment down 45.9 percent to $1.02 billion in the first eight months of the 2009/10 fiscal year.
China Mobile, which operates in Pakistan through its overseas subsidiary, China Mobile Pakistan, has some 6.93 million subscribers in Pakistan, according to the Pakistan Telecommunication Authority (PTA) website (Pakistan Telecommunication Authority).
The company's chairman, Wang Jianzhou, was in Pakistan this week where he met government officials to discuss expansion and investment plans, said the spokesman of the company known in Pakistan by its brand name of Zong.
"During the visit Mr Wang made the announcement that for this year our investment in Pakistan will be $300 million," the spokesman said.
Last year, China Mobile's investment in Pakistan was $500 million, while total investment in the country has reached $1.66 billion, he said.
Pakistan's mobile operators include CM PAK of China Mobile, Mobilink, a unit of Egypt's Orascom Telecom (ORTE.CA: Quote, Profile, Research), Norway's Telenor (TEL.OL: Quote, Profile, Research), Ufone, a subsidiary of Pakistan Telecommunication Co Ltd (PTCA.KA: Quote, Profile, Research), Warid Telecom Pakistan, a joint venture between Abu Dhabi Group and SingTel Group (STEL.SI: Quote, Profile, Research), and Instaphone, which is not publicly traded.
Mobilink has the largest share with 31.06 million subscribers, according to the PTA website. (Reporting by Augustine Anthony; Editing by Muralikumar Anantharaman)
China Mobile to invest $300 mln in Pakistan-spokesman | Reuters
and on top of that they claim China accepted that and will not invest any longer 
