Grupo ICE, Costa Rica’s state-owned telecom operator, invested CRC18.7 billion (about US$36.5 million) in the first half of 2025 to expand its telecom network. The investment is targeted at improving broadband and mobile coverage across the country, with a focus on rural and underserved regions. The initiative aims to enhance service resilience and ensure more equitable digital access for Costa Rican citizens. Grupo ICE Telecom Investments are on an all-time rise.
Total investment in property, plant and equipment, including the telecoms and energy businesses, reached 69bn colones by June, of which 8bn colones went to operating assets and 60.9bn colones to work under construction.
Grupo ICE Telecom Investments Detailed
ICE also reported investments of 1.7bn colones in stage III of the Range project, under which it replaces copper cables with fiber. Another 676mn colones will go toward universal fund Fonatel projects.
Recently, ICE launched a US$249mn tender to acquire goods and services for implementing the 5G and LTE network. The company has an MVNO agreement with its subsidiary Racsa, which owns spectrum in the 3.5GHz band.
ICE reported telecoms revenues of 260mn colones in 1H25, down from 273mn colones a year ago. Including electricity and other revenues, turnover was 730mn colones.
The operating profit reached 135bn colones, with an operating margin of 18.5%, up 12 percentage points.