US-based investment firm KKR is injecting USD 400 million into telco tower development in the Philippines, as confirmed by the US Department of Commerce. Through independent telecom tower operator Pinnacle Towers, KKR plans to develop and acquire around 2,000 towers to enhance digital connectivity across the archipelago.
This investment is part of a larger initiative during a US presidential trade and investment mission led by US Secretary of Commerce Gina Raimondo, where US firms are committing over USD 1 billion to various projects in the Philippines.
The US Department of Commerce notes that the KKR investment is part of its ongoing commitment and support for Philippine national development priorities, such as the improvement of telecommunications infrastructures.
(Source: Philippine Star)
