NEW DELHI, India-The Egypt-based Orascom Telecom announced an investment of US$130 million in its Pakistan-based subsidiary Mobilink GSM for service expansion during the current year.
The company will spend nearly US$300 million for an expansion of its GSM network, Orascom Telecom Holding Chief Naquib Sawiris announced in Islamabad this week.
Orascom holds a majority stake of 89 percent in Mobilink, while the remaining 11 percent is held by local partner Rayshields Investments Limited, a company of the Saif Group. It is the largest mobile service provider in Pakistan with a subscriber base of 1 million. With network expansion, the company hopes to double its subscriber base.
