Kalimat plans to invest $250 million in Iraq

majority owned by Kuwait’s royal family operating in six major Iraqi cities,
has announced plans to provide mobile, fixed and data services throughout Iraq
by November 2011.

According to a recent report from Reuters, Kalimat plans to invest $250 million
in 2011, and launch an initial public offering (IPO) next year with the aim of
tripling their current 300,000 subscriber base by the end of 2011.

recently confirmed
their support as a sponsor for the sixth Iraq Telecoms 2011 Conference at the Ritz
Carlton, Istanbul happening between 25
“27 October this year.
Chief executive Wilson Varghese will be addressing the conference with insights
around their wireless ICT infrastructure.

The planned IPO should help the company to expand as it eyes a nationwide
rollout of services by the end of this year,” said Wilson Varghese.

Organisers confirmed that Iraq Telecoms
will emphasise the
growth and reconstruction opportunities within the Iraqi market as the country
moves on with building its infrastructure with many major programmes planned.

Key industry support is already confirmed for the Iraq Telecoms conference;
sponsors to date include: Asiacell, CDN, Zain, Scopesky, Nokia Siemens Network,
Huawei, O3b, Arabsat, DragonWave, Korek, Kufan Group, Silkroad Group, Kalimat,
Eutelsat, Technology Partners, PCCW Global, and Zhone. Representatives from
many of the sponsors will be delivering further insight in their plans for expansion.

By TelecomLead.com Team

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