Israeli company Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) announced today that it has been awarded two regional telecommunications infrastructure projects worth $153.6 million by Peru’s Fitel (Fondo de Inversion en Telecomunicaciones / Telecommunications Investment Fund). The two deals are for the Amazonas region worth $108 million and the Ica region worth $45.6 million.
The Petah Tikva-based company sees additional revenues being generated by selling network capacity to cellular carriers to address the growing needs for voice, data, and internet in these regions, as well as the development of platforms for e-learning, e-health and e-government.
Fitel has awarded the new regions of Amazonas and Ica to Gilat following four telecommunications projects that are nearing completion, in the Huancavelica, Ayacucho, Apurimac and Cusco regions. In the two new regions, Gilat will build the infrastructure required to support the Peruvian population including connecting schools, police stations and health centers. Gilat corporate VP and general manager Peru Arieh Rohrstock said, "The fact that Gilat was awarded two additional regional projects by Fitel for over $153 million testifies to the confidence placed in our ability to deploy massive telecommunications projects under challenging conditions. Gilat’s interest and long term goal with the six regions won so far, and potentially additional future regional wins, is to turn Peru into a source of secured, multi-year, significant, profitable revenue, generated from both secure government fees as well as from selling services such as e-learning, e-health and other OTT services."
"It is a pleasure to see the continued effort and materialization of providing broadband through financing contracts, this time delivering service to the Amazonas and Ica regions," said Virginia Nakagawa, Vice Minister of Communications, Peru. "Furthermore, I personally congratulate ProInversion for executing a transparent and flawless process that has successfully concluded by closing of these contracts with Gilat."
Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2018
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