Ericsson (NASDAQ:ERIC) is to supply, build, integrate operate and
manage multiplay communications infrastructure for Saudi Arabia's
high-tech flagship, King Abdullah Economic City. The five-year
sole-supplier partnership agreement with Emaar, developer of the
smart-city project, is the first for an end-to-end fixed network in
Saudi Arabia.
This turnkey agreement award breaks new ground in Saudi Arabia as
Ericsson's first GPON- enabled IPTV contract, the first fiber optic
contract and the first fixed-network IMS contract where Ericsson
provides systems integration and network rollout services. The
contract brings together products from Ericsson's major acquisitions
- Entrisphere, Marconi, Redback and TANDBERG Television - and the
company's telecom services portfolio.
The network will provide innovative services - using latest GPON
fiber-to-the home technology, enabling advanced multimedia services
for TV, PC and telephones. Services such as IP telephony,
movies-on-demand, personalized TV, Super fast Internet and data
services are being provided at competitive prices for King Abdullah
Economic City's 2 million residents.
Fahd Al-Rasheed, CEO of Emaar the Economic City, says: "This
partnership sets the foundation for King Abdullah Economic City to be
the world's first truly smart city."
Omar Al-Khudairi, Ethraa Smart City Senior Director, described the
deal to build the smart city's infrastructure in alliance with
Ericsson as a global benchmark from all perspectives.
Jan Kemvall, President, Ericsson Saudi Arabia, says: "It is a great
privilege to be a partner with Emaar in building King Abdullah
Economic city. There are many opportunities to add value because we
will deliver and operate the communication infrastructure across the
city."
Notes to editors:
For more information and images of King Abdulla Economic City, visit:
http://www.kingabdullahcity.com/en/
Ericsson's standard multimedia content is available at the broadcast
room: www.ericsson.com/broadcast_room
Ericsson is the world's leading provider of technology and services
to telecom operators. The market leader in 2G and 3G mobile
technologies, Ericsson supplies communications services and manages
networks that serve more than 195 million subscribers. The company's
portfolio comprises mobile and fixed network infrastructure and
broadband and multimedia solutions for operators, enterprises and
developers. The Sony Ericsson joint venture provides consumers with
feature-rich personal mobile devices.
Ericsson is advancing its vision of 'communication for all' through
innovation, technology, and sustainable business solutions. Working
in 175 countries, more than 70,000 employees generated revenue of
USD 27.9 billion (SEK 188 billion) in 2007. Founded in 1876 and
headquartered in Stockholm, Sweden, Ericsson is listed on OMX Nordic
Exchange Stockholm and NASDAQ.
For more information, visit www.ericsson.com or www.ericsson.mobi.
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Media Relations
Phone: +46 8 719 69 92
E-mail: press.relations@ericsson.com
About Emaar, The Economic City:
Emaar, The Economic City (Emaar.E.C), established in September 2006,
is a Saudi joint stock company managed by Emaar Properties PJSC, one
of the world's largest property developers, and a number of high
profile investors from Saudi Arabia. Emaar.E.C has a share capital of
SR8.5 billion consisting of 850 million shares of nominal value SR10
each. Thirty per cent of the equity, worth SR2.55 billion, was
offered for public subscription.
Emaar.E.C leads the master-planning and development of the 168
million sq m King Abdullah Economic City (KAEC), a project being
built on a pristine location off the Red Sea in the north of Jeddah.
SAGIA (Saudi Arabian General Investment Authority), the body
responsible for inward investments into the Kingdom, is the prime
facilitator for KAEC.
KAEC, a New Age City being built today for tomorrow's generation of
Saudi citizens, has six components - sea port, industrial district,
educational zone, central business district with commercial,
mixed-use, retail outlets and financial island, resorts and
residential area.
The mega-project works closely with the Kingdom's on-going drive to
expand the economy, create employment opportunities for its youthful
population and function as a catalyst to attract foreign investment,
global trade, commerce and industry. Based on initial forecasts, the
project and its several components will create up to one million
employment opportunities in the various industries and
service-oriented companies that will open in KAEC. It will also be
home to 2 million residents (3.2 in the greater area).
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