Al-Bunya Investment and Services Company, a subsidiary of the Libyan Post, Telecommunications and Information Technology Company (LPTIC), has discussed the progress and goals of its ambitious 7,000 telecommunications towers project.
Al-Bunya is implementing the project as part of a wider development strategy in line with LPTIC’s 2030 vision. LPTIC is the state-owned holding company that manages Libya’s telecom and postal services.
Al-Bunya’s Ordinary General Assembly meeting on Thursday included a discussion on the 7,000 Towers Project, as well as a review of key operational, financial and strategic priorities by company officials.
The company says the project aims to lower operational expenses and enhance the efficiency of managing and maintaining telecom infrastructure in Libya
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Another important goal is to diversify revenue sources and improve the financial sustainability of the company, with the aim of increasing the investment value of telecommunications assets.
Al-Bunya also intends to increase the use of national expertise, leveraging on local talent and experience of engineers working in LPTIC Group companies. The strategy aims to leverage the local technical expertise in the operation and management of the tower network to the greatest extent possible.
The General Assembly also discussed various strategic matters concerning Al-Bunya’s performance and financial prospects. Plans for infrastructure expansion and the management of existing assets and maximising their potential in the telecom sector in Libya were discussed.
During the meeting, shareholders and officials reviewed the company’s activity report as well as the Supervisory Board’s semi-annual report, providing an overview of Al-Bunya’s performance and progress during the reporting period.
The 7,000-tower project is a significant part of Al-Bunya’s long-term infrastructure plans, and the company aims to leverage LPTIC’s vision for the 2030 development by incorporating more efficient network management, increased local expertise and better asset utilization.
