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FINANCIAL NEWS
Omantel hunts for new intl operating licenses
24 Aug 2011
(MENAFN) Oman Telecommunications’ Co (Omantel) CEO, Amer Al-Rawas, said that due to the fierce competition in the country’s mobile telecom sector, the telecom operator started to look for operating licenses and network building deals outside the sultanate, reported Arabian Business.
Al-Rawas added that Omantel signed an agreement with two foreign firms in June, Iran’s Telecommunication Infrastructure Co. and Russia’s Rostelecom that aimed at establishing the Europe-Persia Express Gateway (EPEG) cable system.
He also said that the cable system would span over 7,000 kilometers, where members’ investment would reach USD200 million, moreover, EPEG, which would connect Frankfurt, Eastern Europe, Russia, Azerbaijan and Iran to Muscat, would have the initial capacity of 540 gigabits per second and would start operations in May of next year.
It is worth noting that at the end of June, Omantel’s subscriber base reached 2,569,993.
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