Oman broadband hits 302,000 Fibre Optic subscribers, plans for IPO

Number of Fibre Optic Network Subscribers Crosses 302,000 By End of October 2024

Muscat: The total number of units covered by the fibre optic network of Oman Broadband Company by the end of October 2024 exceeded about 886.5 thousand units, including 422.1 thousand units in Muscat Governorate and 464.4 thousand units in the rest of the governorates of the Sultanate of Oman, while the number of subscribers reached 302.2 thousand subscribers.

Eng. Sultan bin Ahmed Al Wahaibi, CEO of Oman Broadband Company, explained that the company is expected to cover more than 97 percent in Muscat Governorate and about 50 percent outside Muscat Governorate of the total units in the Sultanate of Oman during the next three years. The company is currently working on an ambitious plan that aims to cover one million housing units with a fiber optic network during those years.

He said in a statement to the Oman News Agency that the company’s plan includes enhancing investment in infrastructure and expanding partnerships with various stakeholders, noting that the company’s investments and movable assets have exceeded about 287 million Omani riyals since its establishment in 2014.

He added that the number of subscribers to the fiber optic network has exceeded 300,000 subscribers, which represents a major step towards enhancing the digital infrastructure of the Sultanate of Oman and contributing directly to supporting the digital transformation and the Sultanate of Oman reaching advanced positions in the telecommunications infrastructure index and supporting the initiatives of the Ministry of Transport, Communications and Information Technology and the Telecommunications Regulatory Authority in the National Program for Digital Economy and Sustainable Development through various strategic partnerships.

He stressed that the Oman Broadband Company has succeeded in achieving an Omanization rate of 99.5 percent of its total employees, with the number of Omani employees reaching 190 employees, and is working to enhance the participation of Omanis in development projects through indirect employment, as the number of Omani employees working directly in network projects and the final link with contractors has reached 281 employees.

The CEO of Oman Broadband Company said that the company continues its efforts to provide employment opportunities for more than 60 freelancers in addition to 694 small and medium-sized companies that work for Oman Broadband directly or indirectly; which confirms the company’s commitment to providing effective solutions in the field of employment and supplying the local labor market with qualified Omani competencies.

He pointed out that the Oman Broadband Company plans to offer part of its shares for public subscription to enhance its investment capabilities and expand its infrastructure to meet the growing demand for broadband services in the Sultanate of Oman and secure additional financial liquidity to support it in expansion and development projects.

Engineer Sultan Al Wahaibi explained that the company currently has about 50 partnership agreements and cooperation programs with several entities including the government and private sectors, developers, the oil and gas sectors, and water, electricity and sewage service companies.

Regarding the most prominent current projects implemented by the Oman Broadband Company, he pointed out that the company is working on the “Sultan Haitham City” project, which has reached advanced stages with the full design approved to supply the city with a fiber optic network. It is now working on implementing the first phase, which aims to cover more than 10,000 housing units, in addition to the “Sohar Smart City” project, which is still in the design phase.

The company plans to implement a unified infrastructure for facilities, in addition to working on the “Al Khuwair Downtown” project.

He stressed that these projects represent part of the company’s commitment to providing a fiber optic network to various governorates of the Sultanate of Oman. These partnerships open new horizons for connecting projects to the company’s fiber optic network, which enhances its ability to support technological and economic development in various cities and communities in the Sultanate of Oman.

Regarding local added value, the CEO of Oman Broadband Company explained that the company is working to enhance the growth of local added value and the initiatives that support it; as it has qualified a group of small and medium enterprises and provided direct or indirect work for approximately 1,194 local companies and trained and qualified 562 job seekers and 115 university students in various training fields.

It has also contributed to supporting local added value in various fields by providing broadband networks so that the number of beneficiaries of the fiber optic service exceeds 300,000 citizens and 24,000 companies, and covering approximately 600 rural villages with a broadband network via satellite.