CAIRO: Orascom Telecom Holding has signed an extension to the management contract of Lebanese mobile telecom operator Alfa for one year starting Feb. 1, according to a statement.
The terms of the contract are unchanged, whereby OT receives a monthly sum of $2.5 million in addition to 8.5 percent of total revenues, out of which it is liable to cover operational expenses (OPEX) of the network and is entitled to keep the remainder as management fees.
Lebanon is fully responsible for the CAPEX during the contract period.
“The renewal of the contract will allow OT to complete its plans for the future development of mobile phone services in Lebanon, the most important of which is the deployment of the third generation 3G services, the expansion of Alfa’s network coverage to new areas, and the promotion of spreading telecommunication services all over the country,” the statement read.
Khaled Bichara, OT’s CEO said: “We consider ourselves partners in the development of the mobile sector, which is a strategic sector for the economic progress in Lebanon.”