Jakarta. Inti Bangun Sejahtera, a telecommunication tower provider, is setting aside Rp 800 billion ($70 million) as capital expenditure this year for the construction of as many as 700 new towers.
The company is target revenue to increase 30 percent this year, in line with the growth of its telecommunication towers.
said Stefanus Sudyatmiko, the company’s chief financial officer. Inti also plans to purchase several towers, he said, declining to provide details such as cost for the acquisitions.
Jakarta-based Inti operated 2,104 towers across the nation as of the end of 2013.
“We will also set aside some funds for [tower] acquisition,” said Stefanus, after the company’s extraordinary shareholders’ meeting on Monday.
Funding for Inti’s capital spending will come from a planned rights offering and internal cash, Stefanus said. On Monday, the company was granted permission from the Financial Services Authority (OJK) to conduct the rights offering.