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[June 25, 2014]
Saudi Zain signs telecom infrastructure supply contracts worth SAR 4.5 bln [Mubasher (Saudi Arabia)]
(Mubasher (Saudi Arabia) Via Acquire Media NewsEdge) Saudi Mobile Telecommunications Co. (Saudi Zain) said in a bourse statement that it signed telecommunications infrastructure supply contracts at a total value of SAR 4.5 billion, as follows: 1. Details of the deal: A turnkey project to be delivered over three years, providing Zain with a state of the art modern network to cope with the ever growing demand of data communication.
2. Significant conditions to the deal: Timely delivery of project components with quality, according to the agreed schedules over three phases.
3. The deal parties: Huawei, Nokia, NEC Corporation, Cisco Systems International, Alcatel Lucent and Zain.
4. Method of financing the deal: Using the company's own financial resources.
5. Details of main asset operations: The latest 4G/LTE and mobile broadband infrastructure including radio access, transmission, core network, IP backbone and Internet gateway equipment. The purchased assets will enhance and expand Zain current network in terms of coverage and capacity for voice and data services.
6. Deal reasons: To enhance the competitiveness of Zain network, providing Zain customers with a superior customer experience in a more cost effective way.
7. Expected impact on the company operations: Network coverage will increase to 96%, the network capacity and performance will be significantly improved. Zain will be able to capture more traffic, generate more revenues and optimize costs.
It is worth mentioning that this agreement will start from June 25, 2014 and will be in effect for three years, and the company management expects the financial impact to start during third quarter of 2014.; All Rights Reserved - Mubasher Info (c) 2014 Provided by SyndiGate Media Inc. (Syndigate.info).
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