MANAMA: The Telecommunications Regulatory Authority (TRA) yesterday awarded a license to Saudi Telecommunications Company (STC) paving the way for the mobile operator to launch services as the third mobile operator in Bahrain.
STC, with an existing 90 million customer-base, was the only company awarded the bid for BD86.7 million by the TRA after almost a year-long bidding procedure.
The license was officially handed over by the TRA Chairman Mohammed Ahmed Al-Amer to STC Chairman Muhammad Al-Jasser at a presentation ceremony held at the Ritz-Carlton Hotel and attended by officials from both sides.
Present were Alan Horne, general director, TRA management team, representatives of STC's senior management team, media representatives, and other invited guests.
STC, with group revenues of over $9 billion in Saudi Arabia and six other countries has a customer base in excess of 90 million and will soon launch mobile telephony services in Bahrain.
Following winning the bid, the commitments made by STC include the construction of a robust high capacity advanced mobile network with the primary design constraint being focused on quality service and speed to market.
STC's bid also contained a corporate social responsibility obligation of 1 percent of revenue which will be used to foster and support amongst other things the development of e-health, e-learning and sports facilities within the Kingdom.
In addition STC announced the establishment of a $300 million venture capital fund in Bahrain which will focus on the development of ICT in Bahrain.
By Mahmood Rafique
© Arab News 2009
