Brasil Telecom said 82% of its 2001 investment budget, or 3.5 billion reais, would be spent on installing new lines and improving its network quality to meet government-set targets by the end of the year. If this is achieved the deadline will have been slashed by two years. Such an achievement will enable the company to initiate operations in regions outside its own concession area from 2002, allowing it to compete better with new and existing rivals.
Brasil Telecom president Henrique Neves said at a news conference that the company was studying financing options for its investment plan, which is double its 2000 investment. Brasil Telecom’s investment budget from 1998 to 2001 was 8 billion reais, of which 2.9 billion reais is being financed by Brazil’s state development bank BNDES.
