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Batelco’s unit, Jordanian Electric ink partnership deal

Batelco’s unit, Jordanian Electric ink partnership deal
The new company aims to reach 1.4 million homes and businesses
JEPCO
JOEP
-0.83% 1.19 -0.01
Batelco
BATELCO
0.00% 0.38 0.00

MubasherBahrain Telecommunication Company’s (Batelco) Jordanian unit, Umniah, on Wednesday announced signing a partnership agreement with Jordanian Electric Power Co. (JEPCO).

Under the deal, a new company will be established for setting up the infrastructure for a large-scale fibre optic network covering all areas operated by JEPCO, according to Batelco’s statement.

The new company, jointly owned by Umniah and JEPCO, aims to provide 1.4 million homes and businesses with wholesale high-bandwidth internet services through telecom companies and service providers.  

The capital of the new firm wasn’t disclosed. 

“This strategic partnership demonstrates the effect of Batelco’s innovation, efforts, unique offerings as well as its highly effective organisational culture,” Batelco Group’s CEO Ihab Hinnawi said.

In addition, the new deal “will help propel the local economy by creating an environment that is conducive to business development and growth,” Umniah’s CEO Ziad Shatara noted.

In 2018, Umniah and JEPCO created an over-ground fibre optic network in parallel to JEPCO’s electrical grids.