Riyadh – Mubasher: Etihad Atheeb Telecommunication Company (GO) inked contracts at a combined value of SAR 105.23 million on 29 December 2022, according to bourse disclosures.
GO penned the deals with Emirate of Najran Province and Emirate of Tabuk Province at a value of SAR 77 million and SAR 28.23 million, respectively.
The Tadawul-listed company will secure fixed and voice communication services, as well as consulting solutions that are supported by digital infrastructure. It will also create a platform, which includes the required applications to meet the digital transformation standards.
Meanwhile, the contracts signed with Emirate of Najran Province and Emirate of Tabuk Province hold a duration period of 60 months and 36 months, respectively.
The two agreements will reflect positively on GO’s income statements, starting from the first quarter (Q1) of 2023 until the end of the contracts’ duration period.
Last October, the board of GO proposed to increase the company’s capital by 278% to SAR 339.99 million from SAR 89.99 million.
