Thursday, July 27, 2017

Malaysian firm to build 920 towers for Telenor

Malaysian company OCK Group yesterday signed an agreement with its Myanmar partner King Royal Technologies, and operator Telenor Myanmar, to build 920 telecom towers to be delivered in 2016.

OCK will invest around US$75 million in building the towers, which will then be leased to the Norwegian operator.

In total, OCK aims to build up to 3000 towers over a five-year period, the company said in a filing to the Malaysian stock exchange.

“With the Telenor contract, OCK is highly positive achieving its target,” said managing director Sam Ooi in a statement. “We are looking forward working closely with Telenor as its long-term partner.”

Telenor has worked and is working with a number of other towers companies including Apollo Towers, Irrawaddy Green Towers and Eco-Friendly Towers, a subsidiary of Young Investment Group.

The operator has more than 4000 sites across Myanmar, and aims to build another 9000, Telenor CFO Lars Erik Tellman said. “[We] look forward to continue working closely with all existing partners in the coming years.”