POSTelecom in need of $90m

The investments in buying the necessary equipment for the new telecommunications operator POSTelecom amount to $60 million over the next four years in addition to $30 million for operating expenses. “We will use the money to buy telecommunications equipment, such as telephone exchanges and cover the necessary costs entailed by us renting the infrastructure from other operators, by promoting POSTelecom’s services or by the employees’ wages,” Gabriel Mateescu, chairman of the National Romanian Post Office Company (CNPR) said. Zhongxing Telecommunication Equipment (ZTE), Huawei Technologies and Alcatel Shanghai Bell will participate in an international tender set to select the equipment supplier for POSTelecom at the end of the month. “We have a good working relationship with all the three companies. We’re expecting each of them to come up with their final version of the business plan and investment by the month’s end. We will buy the equipment through a supplier credit provided by China’s Export and Import Bank and secured by POSTelecom,” Mateescu said. ZF