Engro Corporation has entered into a strategic partnership with Pakistan Mobile Communications Limited (Jazz) and its parent company, VEON Group, to boost digital connectivity across Pakistan. This initiative aims to provide affordable and widespread telecommunication services, contributing to national efforts to bridge the digital divide.
Under the agreement, Jazz’s telecom infrastructure assets, held by its wholly-owned subsidiary Deodar (Private) Limited, will be transferred to Engro Connect, a subsidiary of Engro Corporation. Engro will also assume responsibility for Deodar’s debt of USD 375 million and provide Jazz with an additional USD 187.7 million. The deal is subject to corporate, legal, and regulatory approvals.
Since entering the telecommunication infrastructure sector in 2018, Engro has played a crucial role in providing essential infrastructure to all Mobile Network Operators (MNOs) in Pakistan. This partnership is expected to benefit the broader telecom ecosystem by utilizing Engro’s infrastructure, enabling MNOs to reduce capital and operational costs while focusing on enhancing services and expanding coverage. This cost efficiency will enable operators to improve connectivity in underserved areas, positively impacting millions of Pakistanis and supporting the country’s digital transformation.
Hussain Dawood, Chairman of Engro Corporation, commented, “This partnership is transformative for both Engro and Pakistan’s telecommunications landscape. By expanding our tower-sharing network, we’re helping MNOs deliver essential services at reduced costs, empowering communities with better, more affordable connectivity.”
Ahsan Zafar Syed, President & CEO of Engro Corporation, added, “Affordable and accessible digital connectivity is the foundation of a brighter, more inclusive future for Pakistan. This partnership takes us closer to empowering millions of people with opportunities to contribute to the nation’s social and economic progress.”
Kaan Terzioglu, CEO of VEON Group, said, “This collaboration with Engro Corp, starting in Pakistan, our largest market, will enable Jazz to focus on innovative digital services and cutting-edge technologies that align with Pakistan’s digital ambition. It also provides VEON with opportunities for shareholder value creation and new business models across our markets.”
Engro remains committed to fostering collaborative solutions that promote sustainable economic growth, ensuring that everyone, regardless of location, can participate in Pakistan’s digital future.
