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Gilat Wins Bid of $108 Million for a

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midastouch017   Thursday, 12/17/15 09:07:10 AM
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Gilat Wins Bid of $108 Million for a New Project in Peru

Today : Thursday 17 December 2015

Gilat Satellite Networks Ltd. (NASDAQ:GILT) (TASE:GILT), a worldwide leader in satellite networking technology, solutions and services, today reported a new award by Peru’s Fitel (Fondo de Inversion en Telecomunicaciones / Telecommunications Investment Fund) of a regional telecommunications infrastructure project for $108 million, in the region of Cusco. This new project is in addition to the projects previously awarded to Gilat by Fitel in the regions of Huancavelica, Ayacucho and Apurimac which are currently underway.
"The fact that Gilat was awarded an additional regional project by Fitel for $108 million testifies to the confidence placed in our ability to deploy massive telecommunications projects under challenging conditions. We continue to expand Gilat's ability to win and execute large-scale rural broadband connectivity projects, in accordance with Gilat's strategy," said Dov Baharav, Chairman and interim CEO of Gilat.

“On top of the bid, Gilat expects additional revenues to be generated by enabling cellular carriers to acquire network capacity to address the growing needs for voice, data, and internet in these regions,” added Mr. Baharav.

“We have taken an additional step for the development of Peru. Today we start covering new villages with high speed broadband. I'm pleased because strategic alliances between public and private sectors are strengthening with those projects,” added Mr. Jose Gallardo Ku , Minister of Transport and Communications.

About the Fitel Peru Award

Fitel’s regional initiative represents the complementary phase of the Peruvian National Fiber Backbone project, aimed to connect rural villages to broadband services. Within the framework of this phase, Gilat won the bid for a regional project – in Cusco located in the south of Peru.

The fiber-optic Transport networks will be built and immediately transferred to the Ministry of Telecommunications, while the Access networks based on wireless technologies will be built and operated for 10 years before being transferred to the Ministry.

In the frame of the Access network operation obligations, Gilat will connect about 615 public institutions and 371 remote villages to broadband services.

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