BoI meets with consortium backing P50-B telco tower project
THE Board of Investments (BoI) said it met with a consortium seeking to build P50 billion worth of telecommunications towers to seek its help with permit approvals.
The BoI said in a statement on Thursday that the Phil-Tower Consortium, Inc., a joint venture backed by Macquarie Capital, inquired about “investment facilitation services” to accelerate the project’s rollout.
“The project involves the construction and operations of shared telecommunications infrastructure facilities that will provide coverage and internet connectivity to Filipinos in remote, unserved, and underserved areas in the country,” the BoI said.
“Phil-Tower has rolled out more than 200 telecommunications towers as of 2022 and is eyeing to construct more in the following months,” the BoI said.
BoI Director Ernesto C. Delos Reyes, Jr. said the agency will help in the processing of the project’s business permits and licenses and address investment-related concerns.
Executive Order No. 18, issued by President Ferdinand R. Marcos, Jr. on Feb. 23, called for the creation of green lanes servicing the needs of strategic investors. The order also designated the BoI as the single point of entry to identify strategic investments eligible for green lane services. — Revin Mikhael D. Ochave