The largest fixed-line communications operator in the Central Federal District, which is home to more than 20% of Russia's population, CenterTelecom said it would continue planned measures in 2006-2008 to develop and upgrade local communications lines using modern technologies.
The company, which is part of Svyazinvest state telecoms holding, said capital investment had totaled 439.36 million rubles (about $16.3 million) in the first half of 2006, and was expected to reach 3.94 billion rubles (about $145 million) in the second half of 2006.
CenterTelecom whose shares are listed on the Russian Trading System stock exchange and the Moscow Inter-Bank Currency Exchange said a strategic aim of its business was to gradually transform its general-use communications lines into multi-service networks and to expand their carrying capacity.
The company whose Level-1 American Depositary Receipts circulate on the U.S. over-the-counter market and the Berlin and Frankfurt stock exchanges said it planned to finance capital investment largely with its own funds.
