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Omani Qatari Telecommunications Company (Nawras) has signed a new financing agreement worth US$182mn to fund improvements to its internet network over a five-year period
Nawras has commenced turbocharging its network in order to increase speed, capacity and provide wider coverage. The programme includes increased 3G+ capacity offering doubled speeds and greater coverage, launching 4G LTE services as well as new network footprint.
The consortium for new financing consists of DBS Bank, HSBC Oman, Mizuho Corporate Bank and Qatar National Bank.
Jorgen Latte, chief financial officer of Nawras, said, "With its clear vision and strategy, Nawras attracts many banks who want to participate and support our strategic targets. The strong commitment of the international banks in this new facility also reflects the strength and trust in the Omani economy and Nawras as one of its key flagship companies."