US-based VelaTel Global Communications (formerly ChinaTel) announced on Tuesday that it has finalised financing contracts with Chinese telecoms equipment giant ZTE to increase its existing equipment and software orders for the deployment and expansion of wireless networks in Montenegro and Croatia, reports SeeNews. TeleGeography’s GlobalComms Database says that under a 2010 agreement, ZTE is VelaTel’s preferred provider of equipment, software, operational services and financing for WiMAX wireless broadband networks, and VelaTel has reported that ZTE is providing 85% of its CAPEX needs; in December 2011 VelaTel revealed that it had already placed a USD4.8 million order with ZTE to roll out 75 WiMAX base stations in Croatia (via its Novi-Net subsidiary) and Montenegro (where it owns Montenegro Connect).
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