Globe Telecom and Skytowers signed a lease agreement covering several towers in the Philippines’ Southern Luzon region on February 6 as part of Globe’s “overall strategy to monetize passive assets to maintain a healthy balance sheet.”
In a statement, Globe said that, together with Skytowers, it is now exploring the possibility of expanding its tower lease in the Visayas and Mindanao areas.
"This partnership represents an important step in improving digital infrastructure in the Philippines, and we are excited to work with Skytowers to bring sustainable solutions to the market. We look forward to further strengthening our relationship with Thailand in this venture and other areas of collaboration,” said Ernest Cu, president and CEO of the Globe Group.
Globe said that the partnership is a testament to the strong relationship between the Philippines and Thailand and their commitment to promoting economic growth and development.
Complementing Globe’s sustainability efforts, the tower company is determined to reduce its carbon footprint by using renewable energy to reduce fossil fuel consumption.
Skytowers Infra Inc. is affiliated with Electric Power and Telecommunication Infrastructure (STOWER), which has extensive experience in the engineering, design and manufacturing of such infrastructure builds.
It offers telecom services and T3 Technology for broadband/fiber optic solutions in markets such as Thailand, Malaysia, Vietnam and Indonesia. Former Ambassador of Thailand to the Philippines Thanip Upatising is the firm’s Chairman of the Board.