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| Monday, 12 August 2013, 16:45 HKT/SGT | |
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Source: IFC | |
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JAKARTA, INDONESIA, Aug 12, 2013 - (ACN Newswire) - IFC, a member of the World Bank Group, is investing $50 million in PT Profesional Telekomunikasi Indonesia (Protelindo), the largest independent telecom tower owner and operator in Indonesia, which is expected to improve mobile coverage and power the country's economic growth.
Established in 2003, Protelindo owns and operates around 9,000 telecommunications towers throughout Indonesia, leasing space at its multi-tenant towers to all major Indonesian wireless operators. IFC's investment will help Protelindo build more towers and provide additional coverage and capacity for mobile operators in the islands of Java, Sumatra, Kalimantan and other parts of the country.
"Indonesia's geographical challenges mean that telecommunications plays a key role in the country's infrastructure development," said Adam Gifari, chief executive officer of Protelindo.
Most Indonesians live in rural areas, where transportation is poor, and mobile phones are vital to helping micro and small enterprises reduce operational costs in conducting their business and increase productivity, thus leading to more inclusive economic growth.
The Indonesian telecommunications industry is among the fastest-growing in the world. The International Telecommunication Union, a specialized agency of the United Nations, indicated that Indonesia had about 282 million mobile phone subscribers at the end of 2012, a 13 percent increase from 250 million subscribers in 2011.
"Improving infrastructure is critical in driving Indonesia's economic growth," said Wiebke Schloemer, IFC's infrastructure and natural resources manager for East Asia and the Pacific. "Our investment in Protelindo is part of our commitment to accelerating infrastructure development in Indonesia, particularly in the telecommunications sector."
In addition to telecommunications, IFC is also helping to build and upgrade Indonesia's ports, power plants, transportation, and other infrastructure.
Contact:
IFC Indonesia
Novita Wund
Phone: +62-81-1840-0438
E-mail: NWund@ifc.org
Topic: Investment
Source: IFC
Sectors: Daily Finance, Daily News
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