Iran telco inks EUR1bn finance agreement

Telecommunication Company of Iran (TCI) has signed a EUR1.0 billion finance agreement with an unnamed overseas vendor for the expansion and upgrade of its networks, the company said.

The company has signed cooperation agreements with Italian telecoms equipment manufacturer Itatel and foreign telecoms carriers KT Corp of South Korea and Kazakhtelecom of Kazakhstan.

The company said the telecom industry has been of particular interest for foreign investment with rapid growth due to deregulation, licencing of new MVNOs, roll-out of 3G and 4G services and a start-up sector.

Capacity Media reported that the Ministry of Information and Communications Technology of Iran and the TIC will officially co-host Iran Connect in September 2016 in Tehran.

Capacity Media, a division of Euromoney Global Limited, a company incorporated in England and Wales focuses on the wholesale telecommunications market and carrier-to-carrier business.