Telecom Egypt has signed a $600 million, 10-year deal with 4iG Group of Hungary to build a fiber network for the North African country. This landmark infrastructure project will provide six million households with access to high-speed network, significantly enhancing connectivity and digital services across Egypt.
The agreement was formalized at the Egypt-EU Investment Conference, inaugurated by President El Sisi and EU President Ursula Von Der Leyen. Under this MoU, Telecom Egypt and 4iG Group will establish a joint venture to build, operate, and commercialize Fiber-To-The-Home (FTTH) and Fiber-To-The-Site (FTTS) networks on a wholesale basis.
In the coming months, both companies will finalize the business model, ownership structure, governance processes, and technological details of the joint venture. This partnership aligns with Telecom Egypt’s strategy to transform all areas into FTTH networks under the Ministry of Communications and Information Technology’s “Digital Egypt” initiative.
The collaboration also supports Egypt’s Vision 2030 for a digitally transformed society and a robust digital economy. Mohamed Nasr, Managing Director and CEO of Telecom Egypt, hailed the agreement as a game changer that would accelerate Egypt’s digital transformation and maintain its position as a leading ICT provider.
Gellért Jászai, Chairman of 4iG Group, emphasized the collaboration as an opportunity to showcase Hungarian telecommunications expertise internationally. He noted that combining the strengths and expertise of both companies will ensure the success of the Egyptian fiber network development program, utilizing the latest technologies and innovations.
This strategic partnership between Telecom Egypt and 4iG Group is poised to deliver unparalleled performance and future-proof connectivity for generations to come, enhancing digital infrastructure and services across Egypt.
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