Egypt’s Ranin Telecommunications is planning to establish the country’s first mobile telephone manufacturing facility in Giza. The factory is expected to produce 400,000 cell phones each year, at a cost of $105 per unit.
The new handset manufacturing firm was set up with a paid-in capital of a 20 million Egyptian Pounds ($4.3 million), reported Al-Quds Al-Arabi. The Cairo-based Ranin is a consortium made up of Kuwait’s Al-Kharafi Group and US-based Qualcomm, Egypt’s Raya Holding Company and the National Telecommunications Corporation.
At year-end 2001, the state-owned service provider Telecom Egypt awarded Ranin a $900-million wireless local-loop telephone project under a revenue-sharing contract. In 2002, the consortium won a $700 million tender to install a wireless network in Egypt, with the capacity to serve five million users. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
