Globe Telecom sealed its second tower deal with a third-party venture to improve mobile connectivity in Cebu, Davao and Olongapo.
In a statement, Globe announced the signing of a memorandum of understanding with Aboitiz InfraCapital, a subsidiary of Aboitiz Equity Ventures Inc., and Singapore-based Frontier Tower Associates Philippines (FTAP).
The signing was in line with the Department of Information and Communications Technology’s (DICT) common tower program, which sought to encourage the private sector to build some 50,000 new cell sites over the next decade.
This would add to the about 17,000 current sites operated by Globe and PLDT Inc. that were deemed inadequate to cater to growing demand for high-speed mobile internet.
The DICT wants the new towers to be shared among operators, including the incoming third mobile player, helping cut redundancy and costs.
“Tower sharing is a means to address the demand for better internet experience. Our collaboration with tower experts will enable us to fast-track the construction of cell sites and towers in unserved and underserved areas as well as congested urban centers,” Globe CEO Ernest Cu said in the statement.
The deal also marks a step forward for the Aboitiz Group’s infrastructure ambitions.
“Through the new common towers that will be built, Aboitiz InfraCapital, in partnership with FTAP, aims to build the right infrastructure that will advance the digitalization of businesses and communities,” Aboitiz InfraCapital chief operating officer Cosette V. Canilao said in the same statement.
Globe also signed last month a deal to outsource the construction and operations of some 150 towers to Filipino firm ISOC Infrastructure Inc. and Malaysian tower builder edotco Group Sdn. Bhd.