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The company invests $267mln every year to expand network, says CEO Mohammed Alhakbani Telecommunication Towers Company (TAWAL), which is 54.38%-owned by the Public Investment Fund (PIF), plans to build 1,000 new towers in 2025, according to a news report. The company invests more than 1 billion Saudi riyals ($266.69 million) annually in network expansion and development, CEO Mohammed Alhakbani told Argaam, an Arabic financial website. In addition, the company will work on upgrading more than 4,000 this year, mainly focusing on 5G. TAWAL currently operates 16,000 towers across Saudi Arabia and 21,000 towers in five different markets, the report said. The number of towers will rise to 30,000 following the merger of Golden Lattice Investment Company and TAWAL, he said, which will position the latter among the world’s top 15 telecom tower companies. |
