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Mobilink to invest $1B in Pakistan

PakistanMobile Communications Ltd., known as Mobilink, plans to invest $1 billion inPakistan over the next five years, TheExpress Tribune reported July 14, citing Jean-Yves Charlier, CEO of parentcompany VimpelComLtd.

The firmwill invest $300 million this year into the expansion and upgrade of thecountry's cellular services and infrastructure, the report added.The investment plan also reportedly includes the establishment of 1,500 franchiseoutlets and the creation of 5,000 jobs.

The movefollows Mobilink's recent merger with Pakistan-based mobile operator Warid Telecom.