Tata Communications, the technology and telecoms arm of Indian conglomerate Tata Group, secured a licence to operate in Saudi Arabia as the company looks to strengthen its foothold in the Middle East.
The company has received a “Type B” licence that will allow it to provide internet and telecom-related services to local enterprises, the company said in a statement.
“By securing this telecom licence in KSA, we will be able to seamlessly bring carrier-neutral services like internet connectivity, public/private cloud, cyber security, borderless mobility and more such services to the region,” Vaneet Mehta, Tata Communications' associate vice-president and regional head for the Middle East, Central Asia & Africa, said. “This will help simplify the digital experience for our customers and aid them in transforming their businesses in the new normal.”
Saudi Arabia, the Arab world’s largest economy, is continuing to open its economy to foreign investors to support its economic diversification plans. During the first quarter of this year, the number of investor licences granted to international companies to operate in the kingdom rose 19 per cent to 348, according to data released by the Ministry of Investment of Saudi Arabia in May.
“The evolving business regulations in KSA are increasingly making it an epicentre for businesses globally to invest in the region,” Tata Communications said. “The Type B licence enables Tata Communications to expand its reach in the Middle East, leveraging its global expertise and capabilities coupled with regional knowledge and experience to cater to new customer requirements.”
Tata Communications is listed on the Bombay Stock Exchange and on the National Stock Exchange of India. Last month, it declared a loss of 1.47 billion Indian rupees (Dh72.4 million/$19.7m) on revenue of 15.18bn rupees for the year to March 31.
The company owns and operates the world’s only subsea network for internet transmission, helping businesses to reach more than 200 countries and territories.
