UFINET makes a bet on Ecuador, entering the country with a million-dollar investment

Madrid, November 8, 2021

Within the framework of the official visit to Spain of the President of Ecuador, Guillermo Lasso, senior UFINET officials met last Friday with the President and ministers of the American country.

The official visit of the Ecuadorian government in Spain included a two-day period in which President Lasso and three of his ministers – Foreign Minister, Mauricio Montalvo; Minister of Telecommunications, Vianna Maino; and Minister of Production and Foreign Trade, Julio José Prado – will have different meetings in order to encourage European investments in Ecuador, as part of its strategy “More Ecuador in the world and more world in Ecuador”.

In this context, the Spanish company UFINET, the largest wholesale operator of fiber optic infrastructure in Latin America, which has been operating for more than 20 years, has announced an initial investment of 150 million dollars in Ecuador, partnering with the Ecuadorian company Nedetel, and has an investment plan of about 100 million dollars more to be executed in the coming years, a plan that is supported by its shareholders, the English investment fund CINVEN, and the Italian multinational ENEL.

“We are very excited to join Nedetel to the Ufinet group and the investment being made in a country like Ecuador where, in addition to the great opportunities for growth in our business, we see a favorable context for a foreign investor thanks to the actions taken by the new government.” points out Stefano Lorenzi, CEO of UFINET.

UFINET is a neutral infrastructure operator that operates in 17 countries, and in the case of Ecuador has a network of more than 12,000 km of fiber optics in very rural areas, providing wholesale telecommunications services. “One of the company’s focuses will be to bring the Internet to rural areas, thus contributing to break the digital divide in the country, supporting local ISPs, in a neutral way, as Nedetel has done so far, providing them with a world-class service supported by state-of-the-art OTN and MPLS networks and complying with the most demanding international standards, for which we count on Nedetel’s excellent human team, reinforced by all the resources and international know-how of UFINET”, says F. Javier Lacasa, COO & Executive Vice President of UFINET.

In the coming weeks, UFINET will inaugurate a state-of-the-art Data Center, the largest in the country, which is located in the city of Guayaquil and will serve to house content providers, as well as all the Telecommunications Operators that need it for their B2B business,” says Juan Carlos Menendez, President of the Board of Directors of UFINET Ecuador.

Both delegations celebrated the news, since the commitment of the Spanish company UFINET in Ecuador will not only help the development of its telecommunications infrastructure, but will also be a source of employment generation.

The President of Ecuador also met with the King of Spain, Felipe VI, and the Prime Minister, Pedro Sánchez, among other authorities and businessmen, after participating in the COP26 summit in Glasgow.


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