New telecommunication investments hitting $ 286 million

Egypt's Ministry of Communications and Information Technology (IT) estimated investments of 5 international companies in Egypt in the telecommunications field until the year 2006 at $ 286 million. These investments will provide 884 career opportunities for the fresh graduates.

The 5 companies signed a number of contracts on investment in export of telecommunications services and industries. Revenues of these investments will hit $ 517 during the same period.

Minister of Communications and IT, Ahmed Nazif, said the ministry continued efforts in a number of mega projects to build an IT groundwork in Egypt in addition to development of the telecommunications networks.

Speaking during a meeting with Chief of Central Auditing Agency, Gawdat Al-Malt, Nazif said the number of users of telephone lines would reach 12 million within the coming four years.