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FINANCIAL NEWS
Nawras plans $390m investment in Oman network
04 May 2010
(MENAFN) The Chief Executive Officer at Oman’s Nawras, a subsidiary of Qatar Telecommunication, said that the company plans to invest $390 million in the next two years to expand fixed line services, Reuters reported.
Nawras currently operates mobile phone and internet services in the Gulf Arab state but the government last year granted the company a fixed line licence.
Nawras broke the monopoly of state controlled Omantel in 2006. Under the condition of its license, Nawras agreed to issue an IPO in February this year but the government granted the company an extension to September.
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