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Zain Jordan inks tower sale deal with TASC Towers

15 Dec 2021

Kuwaiti-owned cellco Zain Jordan has signed a 15-year sale-and-leaseback agreement with Dubai-based TASC Towers – in which the provider’s parent company Zain Group holds a 25% stake – for the passive physical infrastructure of its 2,607 towers. The USD88 million deal also includes an additional 223 sites that will be transferred on a managed basis and a build-to-suit agreement allowing for a minimum of 525 network sites to be built over the next five years. Zain Jordan will retain its active infrastructure, including wireless communication antennas and intelligent software, whilst TASC Towers will manage Zain Jordan’s supporting facilities such as power generators, fuel tanks and protection kiosks.

Zain Group CEO Bader Al-Kharafi was quoted as saying of the agreement: ‘This transaction is consistent with Zain’s 4Sight strategy to create significant value for shareholders through the unlocking of capital and optimisation of infrastructure assets which will flourish under the management of an independent team. As a strategic shareholder, we are committed on supporting TASC Towers’ regional expansion in making it a leading operator of telecom infrastructure. The deal gives Zain Jordan greater flexibility to invest in network upgrades and cutting-edge ICT technologies to meet the ever-increasing demand for reliable broadband access and data consumption. It will also enhance operational efficiencies and enable a laser focus on the operator’s core business and customers to offer them the best mobile and data experience in the Kingdom of Jordan.’

Jordan, TASC Towers, Zain Group, Zain Jordan

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