Ratelindo invests $36 million

Ratelindo invests $36 million

JAKARTA : PT Ratelindo, a subsidiary of PT Bakrie & Brothers Tbk, said that the company had invested some US$36 million to expand its telecommunications network.

Virano Nasution, a director of Ratelindo, said in his statement said that the money was used to finance the installation of 150,000 new telephone lines in the Jakarta, West Java and Banten areas.

He said that the new lines were expected to start operating in the third quarter of this year.

"We now have 135,000 subscribers in the Jakarta area," Virano said.

The company has set itself the target of installing 1.8 million new lines in the three areas with the total investment expected to amount to $400 million. --JP