New major telecommunications player Dito Telecommunity will begin commercial operations by March 2021.
Adel Tamano, chief administrative officer of Dito, revealed in a briefing yesterday that they have an ambitious goal for the new venture.
Dito will deliver a revolutionary service to the Philippine consumers, he said.
Tamano disclosed that their offerings would be different from the two leading telecommunications companies Globe Telecom and Smart Communications.
Based on the news posted online by English-language Philippine daily newspaper The Philippine Star, Tamano said that the Bank of China is among the financial backers of Dito.
He assured that the forthcoming telecommunications firm had secured sufficient resources to fund it.
The chief administrative officer of Dito affirmed that they have already drawn from the first facility amounting to $500 million via the foreign bank.
This funding is enough for the initial-year needs of their rollout, Tamano remarked.
Aside from the Bank of China, the Dito official relayed that they will announce the other banking institutions financing the new firm.
Dito chief technology officer Rodolfo Santiago cited that the new company is tapping mostly foreign financial institutions for financing.
They took this measure because local banks cannot handle the enormous nature of the investment necessary for Dito’s launch, he said.
Santiago explained that the commitment they had obtained from financial firms is already over the P257-billion they pledged.
This amount is the worth of the investment for the new company. Dito has committed to boosting the elementary Internet pace to 55 megabits per second (Mbps).
Moreover, the new venture aims to cover 84 percent of the populace of the Philippines over a five-year time frame.
In May, Dito will have to conduct its first-ever call. This activity is a requirement stated in its certificate of public convenience and necessity or CPCN.
Furthermore, this initial call is evidence that all parts of the network are already ready. By July, the fledgling telecommunications company will perform a technical launch.
The government will check Dito’s capability to deliver on its first-year promise of offering a minimum average Internet speed of 27 Mbps.
Plus, it will determine if the new firm can cover 37 percent of the populace. Also, in the same month, the company relayed that it would possess 1,600 towers prepared.
These facilities would be sufficient to cover the percentage mentioned earlier of the population.
In line with this fact, Tamano cited that they possess and are confident to declare that they have enough resources to unveil 5,000 towers by 2025.
Then, by September, Dito will start pre-commercial tests. It will check how stable its network is by that time.
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