Zain Group, a number one telecommunications operator throughout the Center East and Africa, has introduced that its operation in Iraq has entered right into a 15-year settlement to promote and lease again the passive bodily infrastructure of its 4,968 tower portfolio in Iraq to TASC Towers Iraq for US$180 million.
The deal additionally entails TASC Towers Iraq increasing the community and constructing new tower websites throughout the nation to satisfy rising demand for information connectivity; this can embody 198 new websites over the following 12 months. TASC Towers can even handle Zain Iraq’s supporting amenities akin to energy turbines, gas tanks and shelters.
Zain Iraq will retain its lively infrastructure, together with wi-fi communication radios, antennas, clever software program, transmission programs, and mental property.
TASC Towers, headquartered in Dubai, is a world tower operator targeted on sale and leaseback, build-to-suit and tower-related investments within the Center East, North & East Africa and South Asia markets. TASC Towers’ subsidiary in Iraq will work on optimizing co-location of cell community websites with different telco operators within the nation, aiming for higher utilization of cell website infrastructure and the discount of energy turbines – and therefore the discount of the trade’s carbon footprint.
Zain says the transaction creates shareholder worth and efficiencies by giving Zain Iraq flexibility to spend money on community upgrades and cutting-edge ICT applied sciences, and concentrate on its core enterprise and clients.
This Iraq tower sale is the fourth such transaction undertaken by Zain following the switch of two,830 towers in Jordan, 1,620 towers in Kuwait and eight,100 towers in Saudi Arabia.