One of Latin America’s most successful telecoms, Chile’s Empresa Nacional de Telecomunicaciones (ENTEL) has announced plans to invest $2.2 billion into regional development over the next two years, in an effort to boost both its mobile and fixed-line telephone businesses. This will be a bold move for ENTEL, which posted revenues of $2.9 billion in 2012, and are looking to smash critics by taking major steps into securing their piece of the LatAm telecommunications market.

ENTEL Chile made waves earlier this year after purchasing the highly coveted Nextel de Peru from NII Holdings for $400 million. With Nextel de Peru, as well as this new investment strategy, the company has set their goals high, aiming at market dominance only once held by groups like Carlos Slim’s America Movil, or Spanish giant Telefonica.

Though details have been sparse, the company has stated that a key part of this investment plan will be to enhance its 3G network, as well as introducing a new 4G network into the region in the next 18 months. And while the investment will be mostly financed in cash by ENTEL, they are also prepared to supplement funding by taking on some debt if necessary.

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