Kuwait's Zain Group and Qatar's Ooredoo have launched their telecom tower joint venture (JV) after closing the first phase of the deal.

The two companies have combined their respective tower assets in each of the carrier's respective markets of Kuwait and Qatar, with this portfolio comprising approximately 4,000 towers.

It comes nearly three years after the two telcos signed an agreement to form the JV, worth a reported $2.2 billion at the time.

Each company owns a 50 percent stake in the JV.

The tower platform is set to support the delivery of infrastructure-as-a-service, which the carriers note will create opportunities for operators to access infrastructure in a "more capital-efficient manner while supporting the continued development of the region’s digital infrastructure."

When the JV was first announced, the carriers said that the combined company will comprise approximately 30,000 towers across the Middle East and North Africa.

In the announcement today, Zain said that additional tower portfolios "are expected to be integrated progressively into the platform, subject to applicable closing conditions and required regulatory and other approvals."

“This first closing of the tower platform marks a defining step in the evolution of digital infrastructure for both Zain and Ooredoo. It reflects our shared strategy of creating focused, scalable and sustainable platforms that unlock greater value from our assets while supporting the reduction of the region’s carbon footprint," said Bader Al-Kharafi, vice-chairman & group CEO, Zain.

“We believe this tower platform will play an increasingly important role in strengthening our respective digital foundations and enabling the next wave of connectivity, innovation and economic growth for the communities we proudly serve. We thank the regulatory authorities in Kuwait for their visionary support in the approval process.”

Aziz Aluthman Fakhroo, group chief executive officer of Ooredoo Group, added: “Completing this first closing marks an important milestone in building a regional tower platform designed to create significant value, with a clear path to expansion through additional market contributions. With this milestone, we are now executing across every digital infrastructure segment identified in our strategy as we continue building a leading regional portfolio.”