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FINANCIAL NEWS
Saudi Arabia’s Mobily inks $500m deal in Turkey
19 Dec 2010
(MENAFN) Abdulaziz Al Tamimi, Chief Operating Officer at Saudi Arabia’s Etihad Etisalat Co. (Mobily), revealed that it has signed a $500 million deal in Ankara, Turkey for the development of a regional cable network, Bloomberg reported.
The mentioned deal is tasked with the construction of a 7,750 kilometer fiber cable linking the UAE, Saudi Arabia, Jordan, Syria and Turkey and is expected to be operational in the second half of 2011, said Al Tamimi.
Multiple firms that signed onto the project with Mobily, which is Saudi Arabia’s second largest mobile phone company, included Emirates Telecommunications Corp, the Syrian Telecommunications Establishment, Jordan Telecom Group’s unit Orange Jordan, the Mobile Telecommunications Co�s Jordanian unit and Mada Group alliance, in addition to Turkcell�s fiber optic network unit; Superonline.
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