ZTE Wins Icelandic GSM Network Contract

Switzerland based Amitelo has announced that it will construct a GSM1800 network in Iceland in corporation with China's ZTE. The vendor is also financing the largest part of the project in the form of a supplier's credit amounting to around EUR7 million. After start of operations at the beginning of third quarter of 2008 in the capital Reykjavik, the construction of the network will have been finished by the mid of 2009.

The project in Iceland is expected to generate a turnover of estimated EUR4 million in 2008. By developing the network construction further and finalising the construction work in 2009, turnover should be raised significantly in 2009 (estimated EUR10 million) and 2010 (estimated around EUR15 million.).

"For the ZTE Corporation the collaboration with Amitelo means a welcomed opportunity to become active using our Know-How in a highly developed European technology market. Our partner Amitelo AG persuaded us from the start with professionalism and by having a clear vision for the project in Iceland. The joint implementation and financing are an expression of our persuasion that the construction and operation of the GSM-Network in Iceland will be a success. "We look forward to further joint projects with Amitelo AG already", says Dr. Zhigang Zhang, Managing Director of ZTE Germany.

Posted to the site on 19th December 2007