Thursday, February 11, 2010
Orascom Renews Lebanon Contract with Government
Under this contract, OTH receives a monthly sum of US$2.5 million in addition to 8.5% of total revenues. Out of these amounts Orascom Telecom Holding is liable to cover all the operational expenses (OPEX) of the network and is entitled to keep the remainder as management fees. The Republic of Lebanon is fully responsible for the CAPEX during the contract period.
The mobile network assets of Alfa were transferred to the Republic of Lebanon with effect on August 31, 2002 following the termination of the build, operate and transfer contract under which Alfa was constructed.
"We're happy with the achievements made in the Lebanese mobile market through our management of Alfa during the past year, and are hoping to secure a presence for OTH within the long term plans of the Republic of Lebanon for its mobile communication market" said Khaled Bichara, Orascom Telecom's CEO.