TELECOMMUNICATIONS firm Eastern Communications said it is investing P850 million this year to expand its network coverage.

In a statement Monday, the company said it is increasing its spending to boost the company’s ongoing network modernization program, which already cost Eastern Communications P900 million in investments in 2018.

“This year, Eastern Communications will be allotting a capital expenditure of P850 million to continue its vision of providing the Philippine businesses and households with innovative services and a faster, more reliable internet connection,” it said.

“The capex will go towards the expansion of network coverage to new market and further improvement of the quality of Eastern Communications services,” it added.

Eastern Communications said it already invested a total P2 billion to P3 billion over the past two to three years for ramping up its network.

At the same time, the company said its net income grew 34% to P906 million last year, driven by the expansion of its network coverage, growth in small- and medium-sized enterprise customers and introduction of new products.

“[O]ur vision is to continue building on that strong connection we’ve forged with businesses and industries. Our goal this year is to deliver our signature high tech and high touch service to our more Filipino businesses and to more areas,” Eastern Communications Sales Head Michael S. Castañeda was quoted as saying.

The company said it wants to expand its coverage in Luzon, Visayas and Mindanao by building its network in more locations. — Denise A. Valdez