Entel said it plans to plough a total of $2.8 billion into 3G and 4G networks over the next three years in Chile and Peru, according to a Reuters report.

The bulk of the sum – $2.1 billion – is earmarked for Chile. Entel is running neck and neck with Telefonica’s Movistar to be Chile’s largest mobile operator in terms of connections. Both operators had around 10.5 million mobile connections at the end of 2013, according to figures from GSMA Intelligence.

In Peru, Entel trails in third place with 1.5 million connections (end 2013) compared with Telefonica’s Movistar (15.8 million) and America Movil’s Claro (11.9 million).

Entel, reports Reuters, said it was evaluating the issue of around $600 million of debt this year.

The firm had a turnover in excess of $3 billion during 2013.