Oman Towers inks RO30m financing pact with Bank Dhofar
Published: 02:01 PM,Jan 18,2023 | EDITED : 06:01 PM,Jan 18,2023
Oman Tower Company (Oman Towers), a leading telecom wireless passive infrastructure provider in the Sultanate of Oman, has announced the signing of a financing agreement with Bank Dhofar for a sum of RO 30 million to help fund the rollout of new telecom towers across the country over the coming years.
Muscat-headquartered Oman Towers said the pact will help the company finance the construction, management, maintenance and leasing of new communication towers in line with a strategic plan to expand its passive infrastructure. Passive infrastructure typically encompasses the steel towers, shelters for the base transceiver stations, power supply, generators and batteries, air-conditioning, and so on.
In a post, Oman Towers said the agreement will also enable the company to provide “innovative solutions that meet the requirements of telecom operators” in Oman.
“The signing of this agreement comes within the framework of the growth witnessed by the company during the past years, which has achieved financial sustainability in its operations coupled with qualification and training of human cadres. This is the main element in managing the helm of work in the organization, through planning, implementation, supervision and sustainability to achieve the approved financial model for the company,” it stated.
Oman Towers was established in 2018 to provide the passive infrastructure to licensed wireless telecom service operators, as well as government entities, in an open access manner. The company provides various infrastructure solutions, such as greenfield towers, rooftops, in-building solutions and other innovative ideas for the 4th Industrial Revolution. The company has also been working with suppliers of street furniture to accommodate antennas based on 5G, IoT and others technologies.
According to Oman 70, a major shareholder, Oman Tower Company has successfully rolled out over 900 telecom towers with over 1400 tenancies during the first three of its operations.
“OTC is the fastest growing tower company in Oman that has created over 200+ direct and indirect employment and training opportunities for graduates and is assisting many SMEs via sub-contracting mandates,” it stated on its website.
Shareholders in Oman Towers include Oman 70, Al Souroh Investment, Oman Broadband and Aktivco, (part of Camusat Group), a leading player in assets management for telecom energy infrastructure.
Muscat-headquartered Oman Towers said the pact will help the company finance the construction, management, maintenance and leasing of new communication towers in line with a strategic plan to expand its passive infrastructure. Passive infrastructure typically encompasses the steel towers, shelters for the base transceiver stations, power supply, generators and batteries, air-conditioning, and so on.
In a post, Oman Towers said the agreement will also enable the company to provide “innovative solutions that meet the requirements of telecom operators” in Oman.
“The signing of this agreement comes within the framework of the growth witnessed by the company during the past years, which has achieved financial sustainability in its operations coupled with qualification and training of human cadres. This is the main element in managing the helm of work in the organization, through planning, implementation, supervision and sustainability to achieve the approved financial model for the company,” it stated.
Oman Towers was established in 2018 to provide the passive infrastructure to licensed wireless telecom service operators, as well as government entities, in an open access manner. The company provides various infrastructure solutions, such as greenfield towers, rooftops, in-building solutions and other innovative ideas for the 4th Industrial Revolution. The company has also been working with suppliers of street furniture to accommodate antennas based on 5G, IoT and others technologies.
According to Oman 70, a major shareholder, Oman Tower Company has successfully rolled out over 900 telecom towers with over 1400 tenancies during the first three of its operations.
“OTC is the fastest growing tower company in Oman that has created over 200+ direct and indirect employment and training opportunities for graduates and is assisting many SMEs via sub-contracting mandates,” it stated on its website.
Shareholders in Oman Towers include Oman 70, Al Souroh Investment, Oman Broadband and Aktivco, (part of Camusat Group), a leading player in assets management for telecom energy infrastructure.