By Our Reporter
Chaudhary Group (CG), Nepal’s leading industrial organisaton, has signed a deal worth about $100 million with China’s Huawei Technologies to bring 4G phone services in the country.
CG planned an initial $250 million investment in the new 4G network, Chairman Binod Chaudhary said in an interview.
It will include free voice services but focus on data, online payment and other services, he said.
Chaudhari Group, a family-owned conglomerate had started business by producing noodles at home, later expanded the business by selling it in India and later across Asia. Presently, the Group is running a bank, a telecommunications business providing rural telephony and dozens of resorts, including two in the Maldives in partnership with India’s Taj Group.
Chaudhary is Nepal’s only billionaire with a net worth of $1.7 billion, according to Forbes magazine.
Huawei would supply equipment worth about $100 million for the launch of 4G services, which could later be upgraded to 5G, said Chaudhary, 64, who is also a lawmaker.