Riyadh – Mubasher: Saudi Telecom Company (stc) inked a contract valued at SAR 32.64 billion with a government entity on 27 January 2025, according to a bourse filing.
Under the mega deal, the company will build, operate, and provide telecommunications infrastructure services.
The contract holds a tenor of 18 months for preparation and execution, followed by 15 years of project operation.
The agreement will reflect positively on the telecom firm’s consolidated statements after the initial operation of the project, which is expected to be in the fourth quarter (Q4) of 2026 until the end of the contract period.
In the nine-month period that ended on 30 September 2024, stc posted 1.92% higher net profits at SAR 11.23 billion, compared to SAR 11.02 billion a year earlier.
