True Corp to invest US$1.3BN to expand Thailand's high speed Internet
| 17 November 2014
True Corp, the parent company of cable TV operator TrueVisions, is to invest 43 billion baht (US$1.31 billion) over the next two years to increase the reach of high speed Internet access across Thailand.
True, controlled by the Charoen Pokphand Group, will spend 33 billion baht to extend its fibre optic network to a further four million homes, covering a total of ten million homes by 2016.
Around ten billion baht will be invested in True Corp's 4G LTE mobile service, to cover 80% of the population by the middle of 2015. China Mobile, the world s biggest mobile operator by subscribers, took an 18% stake in True Corp's wireless business earlier this year.
"Investing in high speed infrastructure represents a major shift in the country's ICT infrastructure and telecommunications industry, one aimed at attracting foreign investment in the economy and fostering social development," Suphachai Chearavanont, president and chief executive, True Corp, was quoted as saying in the Bangkok Times.
The company's cable pay-TV operation TrueVisions had a subscriber base of 2.4 million at the end of the first quarter of 2014. The cable company, which broadcasts some 50 high definition (HD) channels, also acquired two digital terrestrial TV licences for news and variety channels and began trial broadcasts of the channels, TNN 24 and True4U in April 2014.