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28-02-14

Saudi Mobily signs agreements to buy USD559 m equipment

(MENAFN) Saudi Arabia"s Mobily has announced the signing of USD559 million export credit agency agreements to purchase equipment from Nokia Siemens Networks and Ericsson, according to Arab News. The agreements, which were signed between Saudi Arabia"s Mobily and Swedish Export Credits Guarantee Board and the remainder with Export Credit Agency of Finland, are expected to be used over an 18-month period. The company, an affiliate of Etisalat, will repay the loans in 17 semi-annual equal installments.