LOC20:34
17:34 GMT
KUWAIT, May 26 (KUNA) -- Kuwaiti Hayat Communications Company has hammered out three contracts with Emirates Telecommunications Corp (Etisalat) at a total value of AED 33.3 million (about USD nine million).
As per the first contract, whose value hit AED 25 million (USD 6.8 million), Hayat company would conduct civil and electrical services for Etisalat telecom towers for three years, Head of the Commercial Department at the company, Amer Hayat, said in a press statement Tuesday.
The Kuwait company signed a second contract with Etisalat to install communications equipment for Etisalat towers for two years and at a total cost of AED seven million (roughly USD 1.9 million), Hayat said.
He added that the third contract is for carrying out annual maintenance and assisting services to Etisalat's stations for five years and at a total cost of AED 1.3 million (roughly USD 353,849).
Hayat expected the contracts would have a positive effect on the company's financial position, with profits estimated at around 10 percent of the contracts' value.
Hayat Communications is a public listed company in the Kuwait Stock Exchange.
The company provides professional and cutting edge technology in the design, supply, build and management of diverse spectrum services in fixed line and wireless networks. These are catered mainly in the mobile industry, fiber roll-out, security and surveillance sectors engaging in top tier partnership with reputed client base across the Middle East. (end)
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