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Articles & publications
01.03.2010
UTK to nearly double infrastructure investments in 2010Interfax
Southern Telecommunications Company (RTS: KUBN) (UTK) intends to allocate over RUR 1.4 bln in 2010 to line maintenance and upgrading telecom infrastructure, the head of the investor relations department Vsyacheslav Plekhanov told Interfax.
For the record, UTK allocated RUR 785.4 mln to finance this area of business in 2009. As a result, the company will nearly double its investments in 2010. Mr. Plekhanov said that investments are to be ramped up due to a decrease in the amount of the operator’s debt burden and rapid expansion of value-added services. “In 2009 the company paid out considerable amounts for the purpose of deleveraging. Furthermore, the company was forced to downsize its investment program. This year is expected to be less tense due to a reduction in the amount of payments due, which means that more funds can be invested in upgrade and expansion”, he said.
As Vladimir Plekhanov pointed out, funds will be allocated to maintain and upgrade telecom infrastructure in all ten areas of the southern part of the country which are serviced by UTK.
Southern Telecommunications Company is the largest fixed-line operator in the Southern and North-Caucasian federal districts of Russia and is a provider of local and intrazonal telephony services, as well as services on the basis of value-added technology. The company’s main shareholderis Svyazinvest, which holds 38.16% of its charter capital.
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