Updated Feb 8, 2019, 7:55:23 AM
Metro Manila (CNN Philippines, February 7) — The Department of Information and Communications Technology (DICT) has signed a deal with a local firm to ramp up telecommunications infrastructure.
In a press statement, Aboitiz InfraCapital - the infrastructure arm of the Aboitiz Group of companies - announced that it has signed a memorandum of understanding (MOU) naming it as a possible common telecommunications tower provider.
"This MOU simply states (that the) DICT recognizes Aboitiz as capable, and that it has the financial capability to invest in towers that it can lease to the telecommunication companies," DICT Secretary Eliseo Rio said in the statement.
Aboitiz InfraCapital added that it is seeking to build, operate and maintain a network of towers throughout the Philippines that can be used by current and future telecommunications companies.
It might also tap its sister company, AboitizPower, to help power these towers.
"The Aboitiz group possesses expensive experience in building and operating utility networks… moreover, the Aboitiz group has established a strong track record on the management and execution of complex projects," said Aboitiz InfraCapital COO Cosette V. Canilao.
To push through with this project, AboitizInfraCapital would have to secure a binding contract with telecommunications operators, after which it will have to ink a memorandum of agreement with the DICT.
The DICT also has MOUs with local firm ISOC Infrastructures, Inc., Singaporean company ISON ECP Tower Pet. Ltd., Nigerian company IHS Towers, Malaysian company Edotco Group and the China Energy Equipment Corporation for the construction and maintenance of telecommunications towers.