The implementation of these agreements, worth SAR 2.4 billion ($640m), will allow the Saudi Arabian telecom provider to renew a significant part of its mobile infrastructure and extend it, provide advanced technology to cope with current and future customer needs and better optimise its future network capital and operating expenditure.
“This agreement comes in line with 2030 Kingdom Vision and its objectives that focus on developing telecom & IT sector. Moreover, it will allow Mobily to provide the best services to its customers that comply with its new strategy “RISE” in which its objectives revolve around boosting up the level of provided services by using the latest telecom technologies,” said Ahmed Aboudoma, CEO of Mobily, who was appointed in January 2017.
“Mobily’s current network has a competitive performance among the sector, whereas; the new agreement will contribute in raising network performance significantly to allow Mobily customers enjoy unprecedented services. The agreement discussions lasted more than six months to ensure adding plans comply with telecom technology rapid developments, in addition to adapting future technologies within an efficient contractual framework.”
The agreements, which will be funded from Mobily’s cash flows and available facilities, will have a positive impact on the company’s financial statements and will contribute in enhancing the company’s future capital efficiency and network-related operational expenses.
