The European Investment Bank (EIB) has granted a EUR 28 million loan to GO p.l.c. (GO).
The EIB loan is backed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe, the Juncker Plan. The project is the first entirely located in Malta to benefit from the EFSI guarantee.
The project, to be implemented over three years, will support GO’s investments targeting a fixed line and mobile very high capacity (VHC) network throughout Malta. GO will use the EIB loan to roll out its Fibre to the Home (FTTH) network to cover more than 70,000 additional households.
This project is part of an ongoing multi-year investment program through which GO is strengthening its infrastructure, introducing new technologies and improving operations with the objective of enhancing customer experience.
GO is 65.42% owned by the Tunisian incumbent operator, Tunisie Télécom. At the end of 2018, revenue reached €171.8 million (2017: €166.3 million) and earnings before depreciation (EBITDA) reached €69.5 million (2017: €65.6 million). As a result, the group’s operating income reached €33.1 million, up 12% of the €29.5 million recorded in 2017.