Zapp Expands Network

Zapp continues investment in network expansion and upgrade

July 11, 2005

1 Min Read

BUCHAREST, Romania -- Zapp has recently started Phase 4 of the expansion and upgrade of its CDMA450 voice and data network, with investments in equipment totaling $60 million. This investment will lead to the coverage of 78% of the Romanian territory and 90% of the population, compared to the current coverage of 70% of the territory and 80% of the population. Thus, the Zapp network will cover 240 cities, 6,300 km of national roads and 1,500 localities.

"We continue investments in expanding and upgrading our network to offer subscribers quality services wherever they need them. Last year we invested over $50 million for Phase 3 of network development and we continue investment in this field in 2005 to cover 78% of the territory and 90% of the national population," said Cuneyt Turktan, President of the Zapp Board.

Investment in the network will be funded, among other sources, from the $94 million financing package obtained by Zapp earlier this year. The financing will allow Zapp to sustain its growth, both in terms of network deployment and subscribers.

The loan was granted, among other criteria, due to the company's excellent performance, ever since the first mobile communications service based on CDMA450 technology was launched. The company posted a spectacular turnover evolution, year on year: from $14 million in 2002, to $52 million in 2003 and to $93 million in 2004.

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