Amman-based New Generation Telecommunications Company (New Gen) will build a nationwide radio dispatch and cellular telecommunications network with financing from the Export-Import Bank of the United States (Ex-Im Bank).
Ex-Im Bank's $49.4 million loan guarantee will finance the US-made telecommunications network equipment from Motorola, of Schaumburg, Ill, and a number of other US exporters and suppliers, according to 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.
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 project is Ex-Im Bank's largest financing in Jordan, and the Bank's first limited-recourse project financing in the country. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
