RIYADH, 22 February 2005 — Bayanat Co. has been awarded a license to provide services in the Kingdom paving the way for transmission of broadband data services to large enterprises and small and medium enterprises (SMEs).
The award ceremony was attended by Dr. Mohammad Al-Suwaiyel, governor of Communication and Information Technology Commission, and Nasser Hijab ibn Nahit, chairman of Bayanat Al-Oula for Network Services.
Bayanat Co., which paid SR120 million toward the license fee valid for 25 years, has pledged to invest SR2 billion over the next five years in developing infrastructure, including high-speed fiber optic cables network for transmission of high quality data to the Kingdom and its neighbors.
Dr. Al-Suwaiyel said the license is one of several issued by the commission for data and communication services. The award of this license was in line with the government’s policy to open up and liberalize the telecommunication market.
The Bayanat chairman said the company landed the award against stiff competition from over 23 national and international companies. “We are going to build wireless network in the main cities and remote areas,” Nahit said.
