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$12.6b raised from telecoms licence renewal, additional spectrum

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THE country will be raking in some $12.6 billion (US$115 million) in revenue as a result of Government’s renewal of the telecoms and spectrum licences of Digicel Jamaica and LIME for the next 15 years, as well as the award of additional spectrum to both companies.

The renewal of the licences and award of additional spectrum represents some $9.36 billion (US$85 million) in investment from Digicel, and $3.29 billion (US$30 million) from LIME.

Minister of Science, Technology, Energy, and Mining Phillip Paulwell, who made the announcement at a press conference yesterday, said both companies made part payments on March 31, with Digicel paying $5.4 billion (US$50 million), and LIME $1.53 billion (US$14 million).

Published in the Jamaica Observer
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