Converge ICT earmarks P20B in 2021 for nationwide expansion initiatives By TED CORDERO, GMA News
Published March 11, 2021 1:23pm Broadband service firm Converge ICT Solutions Inc. has earmarked P20 billion in capital expenditures this year to fund its nationwide expansion efforts in a bid to poise itself as a leading fiber internet service provider. At a press briefing on Thursday, Converge ICT chief financial office advisor Matthias Vukovich said the company increased its total capex for 2021 to P20 billion from P16 billion in 2020. The spending program for this year will be used for the capital required for the expansion of Converge ICT’s backbone and the deployment of additional fiber-to-the-home (FTTH) ports to reach approximately 35% of households in the Philippines by December 2021.