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EghtesadOnline: Telecommunications Company of Iran is pushing ahead with plans to develop the country’s fiber optic network, as well as the Internet Protocol infrastructure that goes along with super-fast telecoms roll out.

TCI Chairman Barat Ghanbari, spoke about the direction of the company in the current fiscal (started in March), and its plans for further expanding fiber optic networks, at the firm’s annual general meeting in Tehran, ISNA reported on Tuesday.

With the implementation of the new technology, Iran’s telecommunications market is likely to expand three-fold in within five years.

Ghanbari’s comments come after several local and foreign firms signed up to develop Iran’s national fiber optic network in recent weeks, Financial Tribune reported.

TCI joined hands with three foreign firms — Huawei and Fiber Home from China and Finland’s Nokia — to expand its fiber optic network and launch Fiber to the Home (FTTH) services in Iran.

Meanwhile, on May 9, MTN said that it had agreed to invest an initial $300 million in fixed broadband provider Iranian Net and lend the company $450 million, according to local technology news agency CITNA.

Rob Shuter, CEO of MTN, signed the agreement in Tehran with Telecoms Minister Mahmoud Vaezi after months of discussion about the company entering the fixed-line Internet market.

The long-awaited investment will give the South African firm a 49% stake in the company.

TCI Iran Telecommunications Iran Fiber Optic Networks Telecommunications Company of Iran