Zain Saudi, SEC subsidiary sign fiber optic network agreement

Zain Saudi signed on Tuesday an open-ended letter of intent with Saudi Electricity Co.’s (SEC) wholly-owned subsidiary Dawiyat to benefit from the utility’s fiber optic network.

The agreement, made for an indefinite period, also includes marketing for both companies’ product and services, as well as providing new locations for telecommunication towers and infrastructure centers, the two companies said in separate statements to Tadawul.

Both companies added that it is currently difficult to assess the financial impact from the deal.