Saudi Arabia's Mobily this week signed framework deals with Ericsson, Huawei and Nokia worth a total of 2.4 billion riyals (€547…
Saudi Arabia's Mobily this week signed framework deals with Ericsson, Huawei and Nokia worth a total of 2.4 billion riyals (€547.12 million).
The three-year agreements pave the way for Mobily to "renew a significant part of its mobile infrastructure," which includes extending coverage and adopting new technology to address current and future demand.
"The new agreement will contribute in raising network performance significantly to allow Mobily customers to enjoy unprecedented services," said Ahmed Aboudoma, CEO of Mobily, in a TradeArabia report on Monday.
Mobily said the deals will be funded from cash flow and available facilities. The operator said they will have a positive impact on its financials by improving future capital efficiency and network-related operational expenses.
Aboudoma added that the agreements also fall in line with Saudia Arabia's Vision 2030 plan to diversify the country's economy away from oil by developing other sectors, of which one is infrastructure, including telecoms networks.