The Board of Investments (BOI) on Thursday said it has awarded the Certificate of Green Lane Endorsement to EDOTCO Towers, Inc.’s PHP150 billion telecommunication infrastructure investments.
EDOTCO, a wholly-owned subsidiary of Kuala Lumpur-based EDOTCO Group Sdn. Bhd, is eyeing to erect 25,000 common towers in urban and rural areas across the country to improve the mobile network broadband in the future.
“The project will play a huge role in introducing new technologies such as 5th Generation (5G) mobile broadband networks and large-scale Internet of Things (IoT) applications through its shared infrastructure offered to services providers and government agencies with open access and a non-discriminatory basis,” the BOI said in a statement.
The company will also use non-conventional energy resources for its projects including photovoltaic systems, wind, biomass, fuel cells, energy storage systems, or hybrid solutions.
The BOI’s One-Stop Action Center for Strategic Investments (OSAC-SI) has granted green lane certificates to two other companies for their telco tower projects as well.
Under Executive Order 18, the OSAC-SI grants green lane certificate for strategic investments for faster permitting and licensing of their projects in national government agencies and local government units.
On Wednesday, Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go said the BOI has certified 23 projects worth PHP500 billion as strategic investments and granted with green lane endorsement. (PNA)