[cellular news] Pan-Caribbean telco, Lime - a subsidiary of the UK's Cable & Wireless - has outlined plans to spend US$600 million upgrading its networks over the next five years.
At a briefing in Jamaica, Lime's Chief Marketing Officer (CMO) Chris Dehring said: "Over the next five years we intend to invest more than US$600 million in our 13 business units across the region to improve the services that we offer and to roll out the kind of new technologies and innovative services that will help us to retain our present customers and attract new ones".
In addition to boosting mobile services, the company will launch a TV service in Jamaica and Barbados by the end of this year. The company will also be upgrading its fixed-line internet service to offer broadband speeds. This year's spending includes a US$35 million investment in a submarine cable linking Jamaica to the British Virgin Islands and the Dominican Republic.
Around US$100 million of the total expenditure will go into the Jamaican market.
"Lime is investing aggressively in the growth and expansion of our business to give the people of the region services that are on par with those offered in places like North America and Europe which will ensure that we remain the provider of choice both now and in the future," he said. "Throughout most of the Caribbean, Lime is the leading player in the telecoms market and we have no intention of conceding this position."
Lime Planning US$600 Million Investment in Caribbean Networks