Mexico City: World’s richest man Carlos Slim is planning to invest USD 1.5 billion in Argentina’s telecommunications sector over the next two years.

During a Mexican-Argentine business gathering, Argentine Planning, Public Investment and Services Minister Julio de Vido said Slim will be investing in broadband, mobile telephony and fourth-generation networks. 

The official added that Carlos Slim will travel to Argentina in May to provide specifics. The business tycoon has also expressed an interest in investing in energy and mining although no new announcements were made in that regard.

Slim has fixed-line and mobile interests in Argentina through his Telmex and America Movil groups, respectively.