Establishment of 'Kuwait Digital Network' with Capital of 33.19 Million Dinars to Develop Fixed Network
Press coverage 2 newspapers covered this event: Al-Jarida · Al-Rai →
Kuwait Digital Network company established under public-private partnership to develop fixed telecommunications network in Kuwait.
Translated by Qiyas from الجريدة — Original source
Kuwait Digital Network Company was established under a public-private partnership model, with a capital of 33.19 million Kuwaiti dinars, with the aim of developing, designing, financing, building, operating, and maintaining the fixed telecommunications network in the State of Kuwait.
According to the company’s articles of association, published in “Kuwait Al-Yaum,” the company’s issued and paid-up capital is set at 33.19 million dinars, distributed across 331,909,500 shares, with a nominal value of 100 fils per share.
The articles of association stipulate that the winning investor in the project will subscribe to 40% of the company’s shares, while 50% will be allocated for public subscription by citizens, and 10% for public entities, in accordance with the provisions of Law No. 116 of 2014 concerning public-private partnerships.
According to Article Four, the purposes for which the company was established include developing, designing, financing, building, operating, and maintaining the fixed telecommunications network in the State of Kuwait, as well as participating in the implementation of the following activities: installation of telecommunications equipment, laying of pipes of various types for electricity and telecommunications, laying of telecommunications cables, installation and laying of computer and telecommunications networks, wired telecommunications activities, telecommunications booths, construction, establishment, and equipping of towers, modern telecommunications services, provision of services in the field of modern telecommunications, and leasing of radio, television, and telecommunications equipment.
