MegaFon intends to invest in the development of communication infrastructure
Tashkent, Uzbekistan (UzDaily.com) - MegaFon intends to invest big money in the development of communication infrastructure. This was stated by the CEO of USM Holding Ivan Streshinsky.
He noted that the company is at the very beginning of the process. “I hope that this will give MegaFon an expansion of the volume of operations, and Uzbekistan - an improvement in the quality of communication, which will become the foundation for a huge number of other things,” he said.
“Our intention is to invest big money in the development of communications infrastructure in the country. After all, Uzbekistan is the birthplace of Alisher Burkhanovich Usmanov, he was born there and wants to help. And we want to create a platform for further development in the country,” he added.
USM Holding and MegaFon, together with partners from Uzbekistan, have completed the formation of a joint venture Digital Holding.
Digital Holding aims to become the technology leader in Central Asia’s largest telecommunications market. The company’s activities will be aimed at expanding access and improving the quality of telecommunications services in the Republic of Uzbekistan, in particular, through the formation of a digital infrastructure in accordance with international standards, as well as the introduction of advanced technologies and systems in the fields of data storage and processing, digital marking and traffic control of individual types of goods.
The JV includes 100% of the authorized capital of the telecom operator Ucell, USM subsidiaries CRPT Turon and ICS Holding Uzbekistan. The Russian side will also invest US$100 million in the development of Digital Holding.
The joint venture will be 51% owned by Digital Invest, a joint venture between MegaFon and USEM Telecom, and 49% by the State Assets Management Agency of Uzbekistan.