Zain Iraq to launch operations in Kurdistan
As the third operator, Zain Iraq expects 15-20% increased revenue next year
Zain Iraq is to expand its operations into Kurdistan in January 2011, and expects to boost its subscriber base by up to two million next year, according to a report from Reuters.
Emad Makiya, who was recently appointed CEO of Zain Iraq, said that Kuwait-based Zain Group will continue to invest in Iraq, which is a key high-growth market, and expects the revenue for 2011 to increase by at least 15-20%, according to Reuters.
With mobile operators AsiaCell and Korek already based in Iraq's Kurdish-run northern region, Zain Iraq will become the third operator in Kurdistan.
Makiya said that Zain Iraq is to invest 16-20% of its revenue every year into upgrading and expanding its network in the country for atleast the next three years.
Reuters also quoted the CEO as saying that the key focus, aside from the expansion in the Kurdish region, will be to commence 3G services in Iraq.
Zain Iraq posted a 10% rise in revenue reaching over $723 million during the first-half of 2010, while the revenue for 2009 increased by 4% to reach $1.342 billion.