Viva Kuwait inks US$270 million vendor financing with Huawei

STC’s Viva, the third operator in Kuwait, has concluded a US$270 million financing arrangement with Huawei to expand its network.

The five-year Sharia-compliant loan will enable Viva, which launched operations in September 2008, to grow its capacity and upgrade to the latest technologies using equipment from China’s largest telecoms vendor.

The deal follows a similar agreement signed between the UAE’s Du and Nokia Siemens Networks in April, providing a long term credit facility. Du’s financing contract has been backed by Finnvera, the Finnish Export Credit Agency, and will be provided through Nordea Bank for the purchase of NSN equipment. NSN is the major supplier to the integrated operator for 2G and core works.