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Telco pledges to invest in network and services, announces new business services deal.
Ooredoo Oman on Thursday announced that it has signed three new financing deals with local and international banks worth a total of US$177 million (68 million Omani rials or €162 million).
It will use the funding to invest in its network and to enhance its service offerings in the business and consumer sectors, the telco said, on the same day that it announced a new business services deal with Oman Munitions Production Company (OMPC).
"There has been huge interest from both local and foreign banks in our new facility," said Jorgen Latte, chief financial officer at Ooredoo Oman. "With our clear vision and strategy, Ooredoo attracts many banks who want to participate and support our strategic ambitions," he said.
The telco said its ability to secure the new financing facilities reflects its strong balance sheet and positive brand equity, as well as its performance in the market.
It noted that it has spent OMR124 million (€295 million) on network modernisation over the past three years, extending its coverage of the country’s population to around 99%.
In a separate announcement, Ooredoo Oman revealed it has signed a deal with government-owned OMPC to provide it with a range of connectivity solutions, including data, mobile and voice services.
"Under this agreement Ooredoo will provide OMPC with high quality communication services that will assist in the operations of the factory," said Ibrahim Bin Ali Bulushi, project director at OMPC.
