Ex-Im Bank offers $49 million loan to finance Jordan's third mobile network
Jordan's New Generation Telecommunications Company (New Gen) will build a nationwide radio dispatch and cellular telecommunications network with $49.4 million in financing from the Export-Import Bank of the United States (Ex-Im Bank). The network is to become operational between this spring and early 2005.
The project is Ex-Im Bank's largest financing in Jordan, and the bank's first limited-recourse project financing in the country. Ex-Im Bank's loan guarantee will finance the US-made telecommunications network equipment from Motorola, of Schaumburg and a number of other US exporters and suppliers, reported a press release.
"Jordan's strategic location and important role in the Middle East make this a particularly noteworthy transaction for US exporters and the US government to support," Ex-Im Bank Chairman Philip Merrill said. "This telecommunications network will bring economic and social benefits to the people of Jordan, while supporting export-dependent jobs at a dozen US companies."
The $85.4 million project, which includes an Integrated Digital Enhanced Network (iDEN), supplied by Motorola, will be the company's first Middle Eastern network outside of Israel and is to be a model for selling iDEN networks to neighboring countries. The network features a "push-to-talk" service and mobile telephony, text messaging, and data services, and is identical to that used for Nextel networks in the United States, Latin America and other operators in Asia. — (menareport.com)
© 2004 Mena Report (www.menareport.com)