solutions inks SAR 313.4M contract with stc

Logo of Arabian Internet and Communications Services Co. (solutions)

Arabian Internet and Communications Services Co. (solutions) signed, on Sept. 25, a SAR 313.4 million contract with stc, a related party, to establish and develop internet and communications networks for the telecom company.

In a statement to Tadawul, solutions said that the contract is valid for 36 months, with the financial impact expected to reflect starting from Q1 2026.

Under the contract, solutions will execute the project to establish and develop the internal internet and communications networks for stc to serve the business units. The scope of work includes strengthening internal internet network, expansion of new and existing NEs, as well as expansion of internet services projects that serve stc’s business units.

The deal also covers fulfilling business sector requirements of stc’s internet network by installing data transfer devices.

This is in addition to increasing the capacity of internal and international network to accommodate the growth in the 5G services and replacing the old devices that are no longer supported by suppliers.

Meanwhile, solutions will work on increasing the capacity of the infrastructure for virtual broadband devices, establishing an internet infrastructure in the new data centers in Khamis Mushait, Dammam, Qassim, and North Riyadh, and supplying, installing, integrating and testing services for equipment, tools, programs and systems.

The deal is a related party transaction as stc holds 79% stake in solutions, the statement added.