Boris Piedra, general manager of Etapa Telecom, has told BNamericas that his company forecasts revenues of USD3.3 million in 2008 and more than USD4 million in 2009, up from the USD2.5 million level recorded in 2007. Etapa Telecom has recently inked an agreement with Huawei for the deployment of a next generation network (NGN). Piedra said that the company's nationwide expansion programme requires a total investment of USD20 million. According to BNamericas, in the voice segment Etapa Telecom currently provides fixed services via rented infrastructure to approximately 1,000 subscribers in Cuenca and Guayaquil. Piedra stated that the company is targeting 5,000 voice telephony subscribers by the end of 2008 and 15,000 clients by end-2009. Etapa Telecom is fully controlled by Cuenca's municipally owned multi-utility Etapa.