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  HOME | Peru

Spain’s Telefonica to Invest $2 Billion in Peru

LIMA – Spanish telecom giant Telefonica said it planned to invest $2 billion in the 2015-2017 period to expand its infrastructure in Peru.

Telefonica CEO Cesar Alierta met with Council of Ministers chairman Pedro Cateriano on Friday and expressed “confidence” in Peru, vowing to maintain the company’s level of investment and expand information and communications technologies in the Andean nation, the company said.

Alierta, who has visited some of the company’s other operations in Latin America in recent weeks, told Cateriano he was convinced the Peruvian economy “has solid fundamentals to recover the velocity of its growth” by expanding investment, especially in infrastructure, Telefonica said.

Telefonica wants to “lead the digital revolution in the country, build new telecommunications infrastructure and focus on the new needs of its customers,” Alierta said.

“We are long-term investors, our commitment to the country for the future remains firm. The digital revolution is already leveling the world and we see a Peru where the possibilities and opportunities of the digital revolution are within reach of everyone,” Alierta said.

Telefonica, which operates a fiber-optic network spanning more than 10,000 kilometers (6,213 miles) in Peru, wants to “perform above expectations,” Alierta said.

“As part of this commitment, we became the first operator to offer 4G LTE service in 2014, allowing more than 900,000 of our customers to currently use this service,” the executive said.

Telefonica, which does business in Peru under the Movistar brand, has also followed through on providing high-speed Internet service to the jungle cities of Iquitos, Moyobamba and Rioja, “bringing the best of technology to Peruvians,” Alierta said.

Telefonica has operated for more than 20 years in Peru, investing over $8.5 billion to “develop the country’s communications infrastructure,” Alierta said.

The Spanish telecom giant’s customer base has grown from 50,000 wireless lines to more than 32 million today, the executive said.

 

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