solutions signs framework agreement with Saudi Aramco for digital computing infrastructure

solutions said value of agreement could exceed 5% of its 2024 revenue

Arabian Internet and Communications Services Co. (solutions) signed on Sept. 16 a five-year framework agreement with Saudi Aramco for a digital computing infrastructure project.

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solutions will supply, install and maintain digital computing infrastructure and related equipment at Aramco’s data centers, the company said in a statement to Tadawul.

The deal, which may exceed 5% of solutions’ revenues based on the 2024 audited financial statements, will generate variable proceeds depending on Aramco’s purchase orders.

The financial impact is expected to appear starting Q4 2025, it added.

According to Argaam data, the IT services provider generated revenues of SAR 12.06 billion in 2024. Accordingly, the deal value is expected to surpass SAR 600 million.