Chinese telco Xinwei has announced plans to invest $300 million in developing its operations in Nicaragua.
Xinwei representative in Nicaragua, Pablo de la Roca, told state media that will invest that amount of money this year and will initially offer services to 240,000 subscribers, up to three million users.
The Nicaraguan Institute of Telecommunications (Telcor), has authorized in January 2013 for the Chinese company Xinwei operated in this Central American country with wireless services and internet.
Xinwei, owned by Chinese businessman Wang Jing, whom the State of Nicaragua gave the award of the construction of a canal for a period of 50 years and 50 others extendible, would spend 2,000 million in the first three years, reported at that time by the regulator body.
The government of Nicaragua Xinwei expected to invest $700 million in 2013, only to be installed as a company, then Orlando Castillo, CEO Telcor, who said that the total investment would culminating in late 2015.
Xinwei representative in Nicaragua, which did not explain the reason for the delay in investment, gave these statements to inform official media on arrival in the country of seven containers with technological equipment, valued at $100 million.
Such equipment, which consist of the core of the network, servers, service delivery platform, base radios, antennas and units of high-speed broadband, landed last weekend in the port of Corinto, the main Pacific Nicaragua.
Xinwei provide fixed telephone services, cellular and internet with 4G technology, according to official information.
The Chinese firm will compete in Nicaragua with companies like Claro Movil of Mexico, and Telefonica Movistar in Spain.
In Nicaraguathere is 6.8 million phones, at least one per inhabitant with a population is about 6.03 million, according to official data.
Written by Sying Han. Source La Nacion.
Photo Credit: Flickr/Steve Bruno