The UAE-based Thuraya Co. for satellite communications announced on Saturday an agreement to provide satellite telephone services with Russia's T.M. Satt Co, reported the official Kuwaiti news agency, KUNA.
The agreement was signed by board chairman Mohammad Hassan Al Ummran, while his Russian counterpart Oleg Oliverkernko signed on behalf of the Russian company.
According to the agreement, the Russian firm is entitled to distribute and market Thuraya's mobile satellite services in Russia.
During the signing ceremony, Umran was quoted by the agency as saying that the agreement laid the foundation for a strategic partnership for Thuraya in Russia. Meanwhile, the Russian official underlined the importance of the new partnership with Thuraya.
A number of Arab and foreign companies are contributing in the $500 million in capital of Thuraya - Albawaba.com
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