3:26:38 PM | 7/8/2005
State Power Giant to Invest US$202Mln in
State-owned power giant Electricity of Vietnam has announced that it will invest VND3.18 trillion (US$201.5 million) to develop the country’s second CDMA (Code Division Multiple Access) mobile phone network.
With the investment, EVN’s subsidiary company, VP Telecom, will be transformed to a high-quality network with nationwide coverage, capable of competing with other mobile carriers in the country.
VP Telecom, the second CDMA mobile operator after S-Fone, began its operations on a trial basis in five cities and provinces at the end of last year.
EVN hopes to rake in more than VND1.1 trillion (US$69.6 million) from telecoms services this year.
In April, VP Telecom signed a deal with a leading telecoms firm in
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