Warid Telecom plans US$250 million new investment in Bangladesh

DHAKA, Bangladesh - Warid Telecom says it plans to invest US$250 million (€162 million) over the next year to expand its mobile telephone network in Bangladesh.

Warid CEO Muneer Farooqui said Saturday it is making the investment after signing up 3 million subscribers since starting operations in the country last year.

Warid is a subsidiary of United Arab Emirates-based Abu Dhabi Group and is Bangladesh's fourth largest mobile phone operator.

Market operators say the number of mobile phone users is expected to exceed 50 million in the country by 2009. Bangladesh has 150 million people.

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