Other Investments
As part of Kingdom for Energy Investments Company growth strategy, KEC seeks to diversify its revenue streams by exploring new industries. Not limited to the energy sector, KEC taps into lucrative investment opportunities in other emerging sectors such as ICT. KEC tries to bring the same passion it shares with the energy industry into the ICT sector with hopes of creating an ecosystem capable of enabling companies to score advancement in this field locally and internationally.
AL Mutarabita Al Asriya for Communications
AL Mutarabita Al Asriya for Communications was established in 2006 under the name Jordan Dubai Information Technology and Communications (JDITC). The company acquired a Public Telecommunication Individual License in 2007 and in exchange of this license, 10% of sweat equity share was given to KEC after the approval of The Boards of Directors of both KEC and Daman for Energy Investments Company.
Under article 20 of the telecommunications law, this license allows AL Mutarabita Al Asriya for Communications to establish, operate, and administrate public telecommunications network and/or to provide telecommunications services in the kingdom.
This license allows the company as well to use Relevant Scarce Resources (such as cables or wires buried under streets and radio frequency spectrum and numbers) in the provision of some or all the services it provide.
AL Mutarabita Al Asriya for Communications has been involved in the development of new technologies capable of offering alternative solutions to data communications infrastructure networks. One of the recent and more successful projects is BEST Project, an emerging innovative technology allows high-speed data transfer over power lines. Through this project, the company aims to operate in the local market by offering competitive telecommunications services.