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GEP Telecom Limited, a local company, signed Thursday a Memorandum of Understanding (MoU) with the ZTE Corporation, a giant Chinese telecom equipment provider, to develop telecom services in Bangladesh.
Chairman of the board of ZTE Corporation Hou Weigui and Managing Director of the GEP Telecom Limited Quazi Saleemul Huq, MP signed the MoU on behalf of their respective companies at a simple ceremony held at a city hotel.
Under the agreement the ZTE Corporation would provide telecom equipment to the GEP Telecom Limited, which will provide telecom services including fixed phone, CDMA (code division multiple access) WLL (wireless local loop) and Transmission.
"We are very much hopeful that the company would start operation in the market by July 2005," said chairman of the GEP Telecom Limited Azam J Chowdhury .
He said the project will cost US $ 6.1 million in the first phase of the operation. The company has targeted to install 120,000 telephone lines throughout the country.
When asked Hou Weigui said the total market share of the ZTE Corporation in telecom sector in China is 20 per cent and the total turnover of the company was $ 4.1 billion during the last year and it is eying $ 6.0 billion in the current year.
Directors Nader Khan, MNH Bulu and Abdul Matin of the GEP Telecom Limited while vice-president Fang Rong, president of South Asia Zhang Renjun and the chief representative of the ZTE Corporation Cao Chenggang of the ZTE Corporation were among others present at the signing ceremony.
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