Kuwaiti Company Invests Jordan's Communications Sector
Posted on: Monday, 21 June 2004, 06:00 CDT
Kuwaiti company invests Jordan's communications sector
AMMAN, June 20 (Xinhua) -- Kuwaiti Alghanim Group is investing 353 million US dollars to establish its first subsidiary in Jordan, Umniah Telecom and Technologies, which would provide services from early next year, local newspaper Jordan Times reported Sunday.
Umniah's CEO Michael Ager expected the company to provide 500 direct and 1,500 indirect job opportunities and estimated the returns from the investment at over 636 million dollars.
The new company will focus on introducing new mobile technologies to the country to further develop the Jordanian telecommunications sector, which is considered one of the most advanced in the region, he added.
The company is partnering with the Chinese Huawei Technologies, a global provider of telecommunications infrastructure and services, in a bid to transfer Huawei's technical know-how to Jordan.
The Chinese company is developing the telecommunications network in Iraq along with three other companies. It has a big share in the Asian market, and is seeking to expand its investments in Jordan.
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