Riyadh – Mubasher: Arabian Internet and Communications Services Company (solutions) inked a deal to establish and develop the internet and communications networks for Saudi Telecom Company (stc).
The two companies signed the 24-month agreement at a value of SAR 309.73 million on 15 October 2024, according to a bourse filing.
Under the contract, solutions will expand stc’s internal internet network and reinforce the internet services projects, that serve the business units of stc.
The deal also covers increasing the capacity of internal and international networks to accommodate the growth in the 5G services.
Furthermore, the telecom group, which is a 79% owned subsidiary of stc, will establish an internet infrastructure in the new data centres in Khamis Mushait, Dammam city, Qassim province, and North of Riyadh.
The financial impact of the project will reflect on solutions’ statements during the first quarter (Q1) of 2025.
Last April, solutions and stc penned a SAR 139.95 million deal to provide maintenance and technical support services for three years.
