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"Orascom Telecom" invests $2.5 billion in Iraq
"Orascom Telecom", the Egyptian Company, said that it intends to pump 2.5 billion dollars in Iraq, during the coming period. Nagib Sawires, company's chairman, has declared his personal intention to pump investments in various fields to participate in pushing the wheel of economic development in the country.
Sawires met with a delegation, representing Iraqi journalists, for the second time within five months. He seemed enthusiastic for continuing in Iraq despite the current risks.
As regards the readiness of the Iraqi government to announce for a new auction for cellular phones' license, he said that London conference, which would be held in the middle of this month (July), would discuss the recitals of offering the new licenses through an international auction, which is a step worthy of praise.
Nevertheless, "all we are seeking is that there would be a fair competition, away from bias, considering that Orascom has started cellular phone service in Iraq, under very hard conditions and has reemployed its profits to improve the standard of this service and continue there."
He said, "We have plans with regard to great development and growth in Iraq, despite the hard conditions. (Nahrein) channel would be transferred into a satellite channel. We are looking forward to obtain a license to establish a bank. We would keep on increasing the number of subscribers in (Iraqana). The most significant thing is that we are looking forward to launching a project of mass and popular influence."
He added, "After we have a clear vision, with regard to renewing (Iraqana), we intend to offer the company shares in the Iraqi stock market, as it is of our interest that the citizen would be our partner."
He confirmed that he was enthusiastic to enter Iraq to provide with the cellular phone service for the brother nation, which has suffered, for years, from the inability to catch up with technological development. He said that Orascom has entered Iraq very early and started to establish the network before receiving the license there. The day of signing the contract is the same day (Iraqana) network has started operation, in an unprecedented action.
He pointed out that all the profits accomplished by Orascom from (Iraqana) network have been re-used in developing the network and improving the level of service.
Sawires explained the reasons of the bad cellular phone coverage in some Iraqi regions. He said that they are due to the interference operations, executed by the alliance forces. He confirmed that the bad service is due to security reasons and has a negative effect on the network coverage. He pointed out that the bad service is possible in cellular phone service as it is a wireless service. He pointed out that this would not prevent Orascom from working on improving the service and increasing the supporting stations from 50 to 200.
Sawires introduced Orascom strategy in Iraq, which aimed at offering a better service at uncompetitive prices. He clarified that if it was not for the level of service (Iraqana) provided, we would not have gained the trust of more than one million subscribers in a record time. He said that Orascom managed to gain the trust of Iraqi citizens, despite the size of challenges, which the company confronted, represented in kidnapping technicians, stealing equipment and attacking supporting stations. Sawires criticized, "Everyone who works on sabotaging the brother Iraq."
Sawires spoke about the deal of the Italian Wind. He said that it accomplishes Orascom's ambitions in global competition. In addition, the deal comes as a test for the west on its capability to accept competition from an Arab country.
He said that Orascom is happy to enter the European market despite of the high rate of saturation of the Italian market, contrary to the Algerian, or Egyptian, or Tunisian market, where the percentage of saturation is no more than a maximum of 30%. Sawires described the entry of Orascom to Europe as an adventure, especially with a market, which is fully saturated. He continued by saying that the global banks and experienced entities have acknowledged the efficiency of the Egyptian experience in the administration of the deal, which is considered as the biggest of its kind in cellular phone market.
Sawires said, "Our ambitions in the coming period are that our company becomes a global player after the struggle on new markets ends." He pointed out that Orascom is seeking to become one of the biggest five cellular phone companies in the world.
Source: Dar Al-Hayat
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