Kuwait: Zain Group announced that its operation in Iraq has entered into a definite 15-year agreement to sell and leaseback, as well as the management rights of the passive physical infrastructure of its 4,968 tower portfolio in Iraq to TASC Towers Iraq for $180 million.

The deal also comprises of TASC Towers Iraq expanding the network and building new tower sites across the country to meet the growing demand for data connectivity as per local market requirements, including an agreed 198 new sites over the next 12 months. Furthermore, TASC Towers will manage Zain Iraq’s supporting facilities such as power generators, fuel tanks and shelters.

Zain Iraq will retain its active infrastructure, including wireless communication radios, antennas, intelligent software, transmission systems, and intellectual property with respect to managing its telecom network.

TASC Towers (www.tasctowers.com), headquartered in Dubai, is an international tower operator focused on sale and leaseback, build-to-suit and tower related investments in the MENEASA market (Middle East, North & East Africa and South Asia). As an independent tower operator, TASC Towers’ subsidiary in Iraq will work on optimizing co-location of mobile network sites with other telecom operators in the country, that will result in a better utilization of mobile site infrastructure, the reduction of power generators and hence the industry’s carbon footprint.