Cairo: Businessman Tarek Nour plans to set up a series of new satellite channels in seven Arab countries under the current title of its Cairo-based channel, Al-Asma Wal Nas "Capital and People."

"Investments earmarked for the new satellite channels amount to USD100mln, equivalent to EGP1.8bn," Nour told Al-Mal newspaper during ceremony organized last Wednesday marking its 15th anniversary since inception.

A satellite channel in the United Arab Emirates' Abu Dhabi will be the first stop for the Capital & the People's series, as another one will be created later on in the Kingdom of the Saudi Arabia, then the remaining channels will be built in some other Arab countries , as all channels are slated to be kick-off in the span of 3 years.

The new channels are scheduled to broadcast programs not different from those presented in the current channel of Cairo and People including TV series, entertainment, cultural and cooking programs as well as news programs.

Cairo and People channel, established as a public channel in August 21, 2009, is owned by Tarek Nour's EGP300mln paid-capital TN Holdings.

Source: AlMal