Telecoms project secures USD55 million in funding

ARC Wireless Solutions and is subsidiary Winncom Technologies Corp has achieved the USD55 million financing necessary for a telecoms project in Kazakhstan, with New York’s Societe Generale Bank committing to the last USD11 million . Winncomm was awarded a contract by Kazakhtelecom in October to provide a turnkey fibre-optic communications network in the capital Astana. The work is being funded primarily by a USD44 million loan from the Ex-Im Bank, the official US export credit agency, and aims to provide voice and data services for up to 100,000 customers in the city. By the end of 2005 the telco hopes to have completed the build-out of a 940km link between Makat, Tenguiz and Akatau in the south.