Carrier sets goal of $1b investment

China Telecom said plans to build cables and internet data centers

China Telecommunications Corp said on Monday that it will invest more than $1 billion over the next three to five years to expand its presence in economies along the Belt and Road Initiative.

Deng Xiaofeng, CEO of its international unit China Telecom Global Ltd, said it will also raise more money from State-owned financing institutions and private investors, in a move to build land cables, internet data centers and other infrastructure in Southeast Asia, Europe and other regions.