Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) announced that the granted 15-year extension to its license will save SAR433 million per year.
“The amortisation charge associated with our license will be lower as we amortise the remaining balance of the SAR 23 billion originally paid for the license over a longer period,” Hassan Kabbani, Zain Saudi Arabia CEO said.
Kabbani added that the company’s license has been extended from an original 25 years to 40 years, to end by 18 January, 2047. During the 15 year extension period the company will pay an annual fee equivalent to 5% of net profits at that time.
The company’s CEO noted that under the newly granted unified license, Zain can offer the full range of telecommunications services, including fixed voice and data services.
