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Tag: Enfrashare

  • Engro Enfrashare signs Rs4.5 billion Islamic financing

    Engro Enfrashare signs Rs4.5 billion Islamic financing

    KARACHI: Engro Enfrashare, a wholly-owned subsidiary of Engro Corporation, has entered into an Islamic syndicate arrangement amounting to Rs4.5 billion, led by Meezan Bank and Faysal Bank, according to a statement issued on Tuesday.

    The proceeds raised through this Islamic syndication would be utilized to finance the development of tower sites for various mobile network operators (MNOs) operating in Pakistan.

    As per terms of the financing arrangement, the tenor of the financing will be seven years, including a grace period of two years. The syndicate includes Meezan Bank Limited, Faysal Bank Limited, National Bank of Pakistan, MCB Islamic Bank and Allied Islamic Bank.

    Last month, Engro had announced to enhance its total equity investment in the Telecom Infrastructure Vertical to Rs21.5 billion. The Telecom Infrastructure vertical was setup in 2019 to accelerate the development of connectivity infrastructure in Pakistan, thereby providing an opportunity for the people to be part of the new digital era.

    Engro Enfrashare is engaged in the acquisition and construction of shared telecom towers, provision of various telecommunication infrastructure and related services, including state-of-the-art network monitoring solutions.

    Since its inception, the Company has now established strong relationships with all MNOs active in Pakistan and is working closely with them to develop build-to-suit (B2S) sites across the country to serve their coverage and capacity requirements.

    According to Ghias Khan, President & CEO Engro Corporation: “Engro is committed to expanding its footprint in the Telecom Infrastructure vertical to power Pakistan’s progress in the digital era. With the support of banking partners like Meezan Bank, Engro Enfrashare will continue to work towards its purpose of making connectivity more accessible and affordable for everyone.”

    Irfan Siddiqui, Founding President & CEO, Meezan Bank, added that digitization would be a major element driving business success in the era we are entering into.

    Meezan Bank being not only the country’s leading Islamic Bank but also the Best Bank in Pakistan, not only understands the significance of telecom infrastructure but also encourages companies to build strong telecom infrastructure that would support their digitization initiatives and enable them to deliver a better customer experience.

    A signing ceremony of the agreement was signed at the Head Office of Engro Corporation, in the presence of Ghias Khan (President & CEO, Engro Corporation), Mazhar Hasnani (Chief Financial Officer, Engro Corporation), Faisal Sattar (CEO, Engro Enfrashare), Irfan Siddiqui (President & CEO, Meezan Bank), Ariful Islam (Deputy CEO of Meezan Bank), Yousaf Hussain (President & CEO, Faysal Bank) and other senior representatives of both institutions.

    Enfrashare, Telenor sign agreement to develop connectivity infrastructure
  • Enfrashare, Telenor sign agreement to develop connectivity infrastructure

    Enfrashare, Telenor sign agreement to develop connectivity infrastructure

    KARACHI: Enfrashare Pakistan Private Limited and Telenor Pakistan, one of Pakistan’s top mobile network operators, have signed an agreement to develop connectivity infrastructure, a statement said on Tuesday.

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  • Zong partners with Enfrashare to expand 4G network

    Zong partners with Enfrashare to expand 4G network

    KARACHI: Zong 4G, Pakistan’s leading telecommunication network, has entered into a strategic partnership with Enfrashare Private Limited, a leading connectivity infrastructure provider.

    The partnership will support Zong 4G’s expansion of its largest 4G network of country to provide better coverage and an unrivaled subscriber experience, said a statement on Monday.

    With more than 12,000 4G sites across Pakistan, Zong 4G is the country’s leading 4G network with over 13 Million 4G subscribers.

    The company is at the forefront of digital revolution, empowering people from all walks of life to experience best-in-class digital experience.

    Enfrashare, with its expertise and investment in connectivity infrastructure, allows Mobile Operators to reduce the cost of access to consumers.

    Owned by one of the largest groups in Pakistan (Engro Corp), Enfrashare was formed with the vision to help enhance digital connectivity throughout the country. It aims to engage with all stakeholders in telecom’s ecosystem in order to realize their goal of digitizing the nation.

    Commenting on the partnership Zong 4G’s Spokesperson said: “Zong 4G is committed in its ambition of building the digital Ecosystem of Pakistan. In a bid to further augment the user experience, Zong 4G has partnered with Enfrashare to further expand its network outreach.

    “Our customers experience is our first priority, and through this partnership our customers will benefit directly from our state-of-the-art mobile network for a seamless digital experience.”

    Speaking at the ceremony, Rehan Hassan from Enfrashare, stated, “Enfrashare firmly believes that connectivity is a basic human need, it is the conduit that enables social and financial inclusion.

    “We are very proud of what we have accomplished in a short span of time, since our inception last year. This agreement allows us to work with one of the most respected operators in the country to provide enhanced solutions.

    “Enfrashare’s vision goes beyond just towers to enable broader connectivity, and encompasses all necessary components including towers, fiber, energy and more. This partnership marks the beginning of a new journey, where the two key members of telecom’s ecosystem will bring together their expertise and enhance the country’s connectivity.”

    Zong 4G’scollaboration with Enfrashare affirms both companies’ vision and commitment to enhance the connectivity infrastructure landscape in the country as well as complements the ambition of building a Digital Pakistan.

  • Jazz, Enfrashare partner to accelerate telecom infrastructure

    Jazz, Enfrashare partner to accelerate telecom infrastructure

    KARACHI: Jazz, Pakistan’s leading digital communications company, and Enfrashare (Private) Limited have signed an agreement to accelerate growth in telecommunications infrastructure.

    This partnership will propel Jazz in strategically expanding its digital infrastructure robustness across both the rural and urban sections of the country, said a statement on Monday.

    Under this partnership, Enfrashare will develop the telecom infrastructure and also provide key services for Jazz, thereby reducing Jazz’s capital investment, paving the way for the digital giant to focus on core business functions and continue upscaling its connectivity reach.

    This collaboration will also enhance Pakistan’s critical communication infrastructure network, while also allowing Jazz to meet its coverage and capacity requirements.

    Aamir Ibrahim, CEO – Jazz commented on the deal: “We aim for rapid digitalization through such strategic investments. Our partnership with Enfrashare marks a new milestone for Pakistan’s connectivity agenda.

    “Together, we are enhancing the local telecom infrastructure and expanding Jazz’s effort to spur the digital turn-around even further.”

    Enfrashare, with its expertise and investment in infrastructure provides an opportunity for the country to be part of the new digital era upon which the sectors of education, agriculture, financial services and health can capitalize and grow.

    To enable this and establish operations, Engro Group has already approved an investment of PKR 7.5 billion in the company.

    Rehan Hassan, CEO, Enfrashare said, “Enfrashare firmly believes that connectivity is now a basic human need, it is the conduit that enables social and financial inclusion.

    “This requires significant capital investments in infrastructure while displaying the highest levels of service quality. We are proud to be recognized by Jazz as a trusted partner to develop and manage these critical assets.”