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FINANCIAL NEWS
Zain Jordan to transfer USD270.2m for 4G
17 May 2014
(MENAFN) According to a government official, telecom operator Zain Jordan is to transfer USD270.2 million to the treasury for the Fourth Generation (4G) frequencies it obtained last month, Jordan Times reported.
In April, the mobile operator executives said it would introduce 4G services that enable data transfer rates of up to 150 megabits per second by the end of this year.
Zain Jordan, a unit of Kuwaiti-based Mobile Telecommunications Co., will transfer USD 199.8million for the 4G frequencies license and USD 70.4million for 3G network expansion, said Finance Ministry Secretary General.
The Jordanian government received offers from KULACOM Jordan and a US-based company called “Ameriphone” to provide 4G services, but the bids were rejected as they were not in line with the tender”s conditions.
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