Nawras signs two more credit facility agreements

Nawras, Oman’s second national telecoms operator, has announced the signing of a further two bilateral revolving credit facility agreements totalling OMR20 million (USD51.8 million) with a three-year tenure. The agreements with HSBS Bank Oman and Qatar National Bank Oman will help meet capital expenditure and working capital requirements. Last month Nawras, which is majority owned by Qatar Telecom (Qtel), signed a financing deal worth USD182 million to partially finance its ‘turbocharging’ programme, which aims to increase the speed, capacity and coverage of its mobile network across the Sultanate.