stc signed a contract with with Arabian Internet and Communications Services Co. (solutions) to establish and develop stc’s internet and telecommunication networks, at a total value of SAR142.4 million ($38 million).
In a statement to Tadawul, solutions noted that the contract encompasses expanding existing and new network nodes, as well as providing supply, installation, integration, and testing services for equipment, tools, software, and systems, in accordance with the agreed scope of work between the two parties. Under this agreement, the internal network capacity will be upgraded to meet the increasing demands for internet services.
Development across key regions
The project also involves enhancing the internal network infrastructure across nine sites located in five main regions of the Kingdom: Central, Eastern, Western, Northern, and Southern, as mentioned in the statement.
The scope further includes providing dedicated DC-GW PE terminals for IP/MPLS network integration, along with the supply, installation, integration, and testing of related hardware and software.
The financial impact of the 36-month contract is expected to be reflected starting from Q3 2025. The statement highlighted that stc is the largest shareholder in solutions, owning a 79 percent stake.
