Globe Telecom Inc. said it raised its capital expenditure budget by P6 billion this year to support its data network expansion nationwide.
“Our guidance for capex moves from P70 billion to P76 billion for 2021,” RIza Maniego-Eala, chief financial officer of Globe, said in a virtual briefing.
Eala said the bulk of this year’s capex would be spent for data network expansion nationwide. As of June, Globe invested a record P43.3 billion to improve its network infrastructure and internet connectivity, beating last year’s spending by 107 percent.
Globe made significant strides in its network expansion with 641 new cell sites as of first half, and 8,175 site upgrades which included both 4G LTE and 5G.
Globe also surpassed the 600,000 fiber-to-the-home lines delivered in 2020, connecting more households all over the country to fiber.