Saudi Telecom inks SAR 7.3 bln deal to deploy broadband

07/05/2017 Argaam

Saudi Telecom Co. (STC) signed an agreement on Saturday with the Ministry of Communications and Information Technology and the Communications and Information Technology Commission (CITC) to deploy high-speed broadband services throughout the Kingdom.

 

The project is expected to cost about SAR 7.3 billion, Saudi Telecom said in a statement to Tadawul on Sunday.

 

The Saudi telco plans to connect about 1.3 million housing units with fiber-optic lines.

 

The broadband project, which will be implemented by the end of 2020, will reflect positively on the mobile operator.

 

However, financial impact cannot be currently determined, as it depends on the specific areas, implementation plans, and customer contributions.

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