MANILA - PLDT Inc on Monday said it has allocated at least P70 billion for this year's capital expenditures to "fortify" network leadership and to drive revenue growth.
Last year, PLDT allocated P58 billion, where approximately P48 billion was spent on network, IT and other technology expenses and spending in 2019 is expected to be at the same rate, PLDT Inc told the stock exchange.
This year, technology capex will cover expansions in mobile LTE/3G, increase in capacity to support data traffic, upgrade in transport network for faster speed and continued investments in 5G developments, PLDT said.
The allocation will also fund fiber-to-the-home rollout to serve the demand of fixed home and enterprise consumers, upgrade of existing DSL customers, increase in fiber base stations and investments in submarine cables.
"Our technology capex will be at similar levels, as we continue to focus on improving our customers’ overall data experience, both in home and out of home (mobile)," PLDT said.
The increased capex was outlined amid the entry of third major player Mislatel to challenge Globe and PLDT Inc.
But chairman and CEO Manny Pangilinan earlier said the impact of Mislatel's entry "would be modest" as huge portion of PLDT's revenues come from fixed connection.