BUENOS AIRES Ė Wireless operator Claro, a unit of Mexican multi-billionaire Carlos Slimís America Movil, said Wednesday it plans to invest $2.65 billion in Argentina over the next five years to upgrade and expand its networks, boost coverage and improve service quality.
Those funds will be used to increase the capacity of the operatorís 3G network; roll out a 4G network, which offers faster Internet speeds; and expand its fiber-optic coverage, Claro said in a statement.
The total includes $400 million annually for network upgrades and the $281 million the company used to purchase new wireless spectrum in a 2014 auction, while the remaining money corresponds to the amount Claro expects to spend in future tenders, company sources told Efe.
ďArgentina has been experiencing a profound transformation in recent years, characterized by users who consume all types of content and growing demand for access to faster connection speeds,Ē Claro added.
America Movilís Argentine unit has reported an 800 percent increase in its customersí mobile data consumption over the past five years, while the use of its traditional text messaging service has declined by 35 percent over the past three years.
ďIn this regard, the company has decided to launch an aggressive mid-term investment plan focused primarily on positioning ourselves at the forefront of this growing trend in data consumption and guaranteeing service quality,Ē said Claro, which has 20 million customers in Argentina.