Two companies who manage some telecom masts for Ghana’s MTN and Vodafone have invested $127.7 million into operations, according to the Ghana Investment Promotion Centre (GIPC).
The two companies, American Tower Corporation (ATC) Ghana Limited and Eaton Towers Ghana Limited spent $123.49 million and $4.25 million respectively on projects they undertook during the period.
In its second quarter report for 2011, released on August 4, 2011, and emailed to ghanabusinessnews.com, the GIPC indicated that the ATC Ghana projects were on “development, maintenance, management & leasing of communication sites with an estimated project value of GH¢185.23 million ($123.49 million) while projects by Eaton Towers Ghana was also on “Operating towers & electrical equipment for telecom operators with an estimated project value of GH¢6.38 million ($4.25 million).”
Giving the international expansion update in its 2011 second quarter results, the Boston based antenna operator said it spent approximately $275.2 million for the purchase of international towers including 400 towers it acquired in connection with the company’s joint venture with MTN in Ghana which were under prior acquisition agreements.
MTN Ghana sold its transmission towers to ATC through a joint venture, TowerCo Ghana in December 2010.
ATC says it has “1,476 remaining towers from the Ghana transaction, which are expected to close in various tranches throughout 2011, with approximately 800 additional towers expected to close in the third quarter of 2011 and the balance of approximately 676 towers in the fourth quarter of 2011, subject to customary closing conditions.”
ATC has approximately 2,000 telecommunications sites available for sharing in Ghana and owns and operates approximately 37,000 communications sites worldwide.
By Ekow Quandzie