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International telecom group to invest $ 2.2 bln in morocco GSM
Morocco, Business, 10/1/1999
The International telecom Group MEDITELECOM will invest $ 45 million in 1999 and will increase this investment to nearly $ 1.6 billion in 2000, $ 2.1 billion in 2001 and $ 2.2 in 2002.
The group --which will start exploiting Morocco's second GSM license next April-- includes Spanish Telefonica, Portugal Telecom, Afriquia Group, Morocco's BMCE Bank and Morocco's Deposits and Management Fund (CDG).
The group's staff will gradually grow up from 200 employees at the end of 1999 to 1100 in 2002, executives of the group said at a news conference here on Thursday.
Five firms, namely Siemens, Nokia, Ericsson, Lucent and Nortel, have so far responded to the tender launched by the group to provide equipment.
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