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FINANCIAL NEWS
Oman’s Nawras to upgrade network via USD350m investment
24 Mar 2013
(MENAFN) Nawras CEO, Ross Cormack, stated that during the coming 3 years, the second-biggest telecom firm in Oman would upgrade its network infrastructure with a USD350 million investment, reported Gulf News.
Cormack said that in the last 5 months, Nawras has spent USD130 million to develop its network.
He added that three weeks ago, the telecom service provider has taken all the base stations from Al Bustan to beyond Al Musannah and replaced them with the latest base stations to provide super-fast broadband service [4G LTE].
He added that the company, which serves over 2 million clients, has a market share of nearly 42 percent in the mobile phone space.
It is worth noting that in 2012, Nawras lost USD38.06 million from its budgeted SMS revenue as a result of strong use of WhatsApp by Omanis.
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