Ethio telecom and the Swedish telecom giant Ericsson concluded their negotiation to undertake the expansion project that was awarded to ZTE, the Chinese state telecom company.
Ericsson and ethio telecom will sign the deal this evening at Hilton Hotel to seal their deal. For the past few months the Swedish company has been negotiation with the state enterprise to be part of the expansion.
About a year ago ethio telecom signed the expansion deal with ZTE and Huawei Technologies, the other Chinese firm, to share the project with 50/50 scheme.
“Ericsson takeover four circles from the total of six circles of the project,” Andualem Admasse, CEO of ethio telecom, told Capital today. “It will undertake the majority part of the project that was awarded to ZTE,” he added.
The balance two circles are expected to undertake by ZTE.
The project that awarded for the Chinese companies is worth 1.6 billion dollar. When the project finalized it will make double the current mobile subscription to 50 million users and 4G for the capital and 3G networks for regions.