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HAYATCOMM seals 4 contracts worth $8.9m with Huawei Technical

HAYATCOMM seals 4 contracts worth $8.9m with Huawei Technical
HAYATCOMM
HAYATCOMM
-1.30% 91.00 -1.20
ETIHAD ETISALAT
7020
10.16% 52.60 4.85
Hayat Communications Co. announced that it has concluded four contracts worth of SAR33.4 million ($8.9 million) with Huawei Technical.

A bourse statement, noted that the new agreements come in favor of three Saudi - based mobile operators namely; Zain, Saudi Telecom Company (STC) and Mobily.

Under the agreement, HAYATCOMM and Huawei will undertake the installment of new sites within two years, starting from the contract's enforcement date.

HAYATCOMM expects the new four deals to generate profit margin of 10% , added the statement.

Notably , in mid- August the Kuwaiti company announced it has concluded three contracts worth $ 17.8 million with China's Huawei in favor of viva - Kuwait Telecom Company.


Established in 1999 in Kuwait - HAYATCOMM operates within the telecommunication services sector focusing on integrated telecommunication services. It has 12 subsidiaries operating across Middle East, Eastern Africa, Northern Africa and Southern and Central Asia.