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 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-theHome (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 products 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 communicationstechnology in the world while ensuring that it providesthe 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) 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. Moreoever, 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."
Shares of Tejas Networks Limited was last trading in BSE at Rs. 687.35 as compared to the previous close of Rs. 693.15. The total number of shares traded during the day was 25744 in over 1573 trades.
The stock hit an intraday high of Rs. 694.10 and intraday low of 682.75. The net turnover during the day was Rs. 17702804.00. |
