Zain Saudi inks $1.2bn deal to develop network

Telco says deal parties are Huawei, Nokia, NEC Corporation, Cisco Systems and Alcatel Lucent

Zain Saudi, Saudi Arabia's third biggest telecoms operator, said on Wednesday it has signed infrastructure supply contracts worth SR4.5 billion ($1.2 billion) to develop and expand its network.

The deal parties are Huawei, Nokia, NEC Corporation, Cisco Systems and Alcatel Lucent, Zain said in a statement on the Saudi bourse's website.

The operator said it would use its own financial resources to finance the deals.

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Zain - Saudi Arabia
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0.05 0.61 (%)
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