Mobily inks $160m deal for KAEC telecom
Riyadh, July 3, 2013
Etihad Etisalat (Mobily), the leading telecom operator in Saudi Arabia, has signed a SR600 million ($160 million) contract with Emaar Economic City to deploy and operate communication networks within King Abdullah Economic City (KAEC).
The contract was signed by Khalid Al Kaf, CEO and managing director of Mobily and KAEC CEO & MD Fahd bin Abdulmohsen Al-Rasheed.
During the eight-year period of the contract, Mobily will also provide advanced infrastructure for integrated telecommunications services on KAEC, as well as data transmission services and broadband Internet services through an advanced, secure and high reliability fibre optic network.
The company will also provide Data Centre and Smart City services, such as IPTV, as well as Ethernet VPN (L2), IP VPN (L3) Direct Internet Access (DIA), IP Transit, Broad Band at Work, and Business Connect.
Mobily will also provide communications management services, which reduce the time to install and manage telephone communications network for targeted companies in KAEC.
The funding will be self-financing and through banks as it is expected to generate revenues of about SR1.4 billion during the contract period.
King Abdullah Economic City is the largest and one of the most important economic projects run by the private sector in the Middle East. It is an integrated city built on 180 sq km with a 38 sq km waterfront. – TradeArabia News Service
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