MyAdhan Blog

Link: Syria’s Telecom operator to invest EUR1bn in network

Related Link:
Syrian Telco Plans US$1.5 Billion Investment Over 5 Years

Revenues from mobile operators will boost the 2008 revenues of the Syrian Telecommunication Establishment to SYP62.5bn ($1.25bn). This record figure would represent a 12.8% increase over the 2007 figure, which is estimated at SYP54.5bn ($1.09bn). In 2007, income had risen by 14.7% compared to the previous year. This increase will be largely the consequence of a 23.8% projected surge in fees collected from the two mobile phone firms, Syriatel and MTN. Under the terms of the 15-year Buy Operate Transfer (BOT) contract signed with the two operators, STE will collect the equivalent of half of the two firms’ total income starting this year. This rate stood at 40% in 2007. In 2008, STE plans to collect SYP27.5bn from MTN and Syriatel, up from SYP21bn in 2007. Meanwhile, the number of subscribers to the GSM networks is continuing its double digit annual growth. On October 31, 2007 the number of subscribers to Syriatel and MTN stood at 6.2 million, up from 4.4 million at the end of 2006. Syriatel has a market share of 55%, with almost 3.5 million subscribers, while MTN had 2.7 million subscribers.