4iG Signs MoU on Fiber Network JV With Telecom Egypt
![](/uploads/banners/20219/201187388_834773450788298_3076122395928300871_n.jpg)
Image: Facebook
Listed Hungarian ICT company 4iG on Monday announced the signing of a memorandum of understanding with Telecom Egypt on the establishment of a joint venture to build, operate, and distribute fiber infrastructure on a wholesale basis in Egypt, according to a report by state news wire MTI.
The JV aims to build a fiber network that reaches "at least" 6 million households with an investment of around USD 600 mln, 4iG said.
The MoU was signed in Cairo on Sunday.
In a separate press release, 4iG said the JV's investment would be made over a period of 10 years.
The agreement was signed at the Egypt-EU Investment Conference which was opened by Egyptian President Abdel Fattah El-Sisi and European Commission President Ursula von der Leyen.
Earlier in the year, 4iG signed a term sheet with Telecom Egypt on a high-capacity submarine data cable link between Albania and Egypt.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.