BENGALURU, India, March 26, 2024 /PRNewswire/ -- Tejas Networks (BSE: 540595) (NSE: TEJASNET) today announced that it has signed a Memorandum of Understanding (MoU) with Telecom Egypt (TE), ITIDA (Information Technology Industry Development Agency) and NTI (National Telecom Institute) to replicate its experience of implementing the Bharatnet (Rural Broadband Project) and NKN (National Knowledge Network) projects in Egypt. Other broad areas of cooperation include capacity building of Egyptian engineers and technicians on state-of-the-art telecom and networking technologies; establishing local manufacturing and R&D facilities for Fiber-to-the-Home (FTTH) products; and setting up technical support services in Egypt both for customers within the country as well as for the larger Africa and Middle East region.
Hon'ble Dr. Amr Talaat, Minister of Communications and Information Technology of Egypt, said, "Today's MoU with Tejas Networks is one of the fruits of discussions that began in January 2023 to enhance cooperation between Egypt and India in the field of communications and information technology. It is a comprehensive agreement that seeks to promote localization of world-class communications products, inject new Indian investments into Egypt, create job opportunities, and develop research cadres in various fields of communications."
Speaking on the occasion, Eng. Mohamed Nasr El-Din, CEO and Managing Director of Telecom Egypt, said, "We are delighted to enter into a long-term strategic partnership with Tejas Networks, India's leading R&D-driven telecom and networking product company and a part of the Tata Group. Telecom Egypt has been consistently working towards enhancing its network infrastructure and developing its technical capabilities through cooperation with the largest companies in the world. The present MoU is aimed at providing Telecom Egypt with the latest communications technology in the world while ensuring that it provides the highest quality of infrastructure services."
Mr. Anand Athreya, CEO and Managing Director of Tejas Networks, said, "Our MoU with Telecom Egypt is an important milestone for both organizations, as we jointly strive to accelerate the vision of a Digital Egypt by leveraging the best practices and learnings from Tejas's experience of successfully designing and delivering 500+ complex, carrier-class networks in India and beyond. We are committed to serving as a trusted advisor and technology partner for Egypt's digital transformation journey while nurturing its local ecosystem in telecom manufacturing, R&D, network planning, installation and maintenance."
Mr. Yogesh Verma, Vice President, Middle East and Africa (MEA), Tejas Networks, said, "Tejas has been operating in MEA for over a decade now and has extensive knowledge and insights about the local requirements and operating conditions to roll out cost-effective and scalable networks. Moreover, with our recent commercialization of 4G & 5G RAN products, the company now has an end-to-end portfolio to build both fixed and mobile networks. This MoU provides a great platform for us to expand our business in MEA, while deepening our collaboration with Telecom Egypt and other customers in the country."
About Tejas Networks Limited
Tejas Networks Ltd. designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. Tejas Networks Ltd. is a part of the Tata Group, with Panatone Finvest Ltd. (a subsidiary of Tata Sons Pvt. Ltd.) being the majority shareholder.
For more information, visit Tejas Networks Ltd. at https://www.tejasnetworks.com
About Telecom Egypt (WE)
Telecom Egypt is the first total telecom operator in Egypt providing all telecom services to its customers including fixed and mobile voice and data services. Telecom Egypt has a long history serving Egyptian customers for over 160 years maintaining a leadership position in the Egyptian telecom market by offering the most advanced technology, reliable infrastructure solutions and the widest network of submarine cables. The company also owns a 45% stake in Vodafone Egypt.
For more information, visit Telecom Egypt at https://www.te.eg
Contact: Investor Relations | [email protected]
SAFE HARBOUR
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the industry in which the Company operates. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.
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