Posted by Neil King
UAE-based telecoms service provider du has secured a new financing agreement that will allow it to expand its 2G and 3G network in the region.
In a statement, du said the agreement with KfW IPEX-Bank GmbH, part of the German KfW Bankengruppe, is for a $207 million export credit facility for the purchase of Nokia Siemens Networks (NSN) solutions and services.
Osman Sultan, chief executive officer of du, said: "There continues to exist a high demand throughout the UAE for improved coverage and capacity. This financing deal with NSN and KfW IPEX-Bank GmbH will enable us to carry on meeting this demand head on.
"The new equipment will facilitate the continued roll out of our 2G and 3G network, greatly benefitting du's customer base, while simultaneously expanding our coverage and capacity within the UAE."
NSN is currently the majority vendor supplier to du for 2G and Core Works.