US-based KKR has announced plans to invest around USD400 million in telecom tower operations in the Philippines. The company will develop and acquire 2,000 towers to support digital connectivity across the country as part of its investment in Pinnacle Towers.
KKR invested in Pinnacle Towers in 2020 through its infrastructure fund.
Moreover, some other key investment deals include the TPU (Taiwan-Philippines-United States) subsea cable system by Google which is expected to be completed by the end of 2025 and investment made by Meta in the Pacific Light Cable Network international submarine cable system which will support the Philippine government’s National Fiber Backbone Phase 1. This project will connect the US with Luzon Island and Manila and will be launched on March 25, 2024.