IHS Towers has signed an agreement with Egypt Digital Company for Investment (EDCI), the largest shareholder in Egypt Towers for Technology Services Company, to obtain a licence from the National Telecom Regulatory Authority (NTRA) to erect and lease telecom towers. Upon completion, a new company called IHS Telecom Towers Egypt will be formed. IHS Towers will own 80 percent of IHS Telecom Towers Egypt and EDCI will own the other 20 percent.
The new consortium is in the process of becoming licensed by the NTRA and these procedures are expected to be completed during this week. The partnership aims to meet the needs of the Egyptian market in terms of wireless telecommunications towers, help achieve the national coverage plan, and construct new towers in accordance with the work plan and the relevant licence requirements.
Up to 5,800 towers will be built during the first three years of the licence term. It also provides the possibility of acquiring wireless telecommunications towers owned by third parties and using them to provide the services as specified by the licence.
