Nawras secures US$180 million financing for capital expenditure

Nawras has signed a new financing agreement worth OMR 70 million (US$182 million) with a five-year tenure, for capital expenditure and working capital requirements. The consortium for new financing consists of DBS Bank, HSBC Oman, Mizuho Corporate Bank, and Qatar National Bank. The facility agent for this financing is Qatar National Bank.

Nawras has commenced turbocharging of its network in order to increase speed, capacity and provide wider coverage to give customers a more rewarding experience. The programme includes increased 3G+ capacity offering doubled speeds and greater coverage, launching 4G LTE services as well as a new network footprint. This programme of future proofing the network shall be partially financed by this new facility.