Solutions Completes Establishment of Amanah Tech with Jedco

Arabian Internet and Communications Services Co. (Solutions) announced on Sunday the completion of establishing Amanah Tech for Business Solutions in partnership with Jeddah Development and Urban Regeneration Co. (Jedco), owned by Jeddah Municipality.

Solutions explained that the purpose of establishing Amanah Tech Co. is to implement and operate technical and digital solutions for projects managed by Jedco and its subsidiaries.

According to the announcement published on “Tadawul”, the ownership shares in Amanah Tech for Business Solutions will be as follows: Solutions with a share of [70%], Jedco with a share of [30%], with a capital of 3 million riyals.

This partnership comes in line with Solutions’ (LEAP) strategy to grow and expand into promising business lines to enable digital transformation for its customers and provide the best value for its shareholders.