The Saudi Telecom Company (stc) announced the signing of a landmark contract with a government entity valued at SAR 32.64 billion. The agreement involves the construction, operation, and provision of telecommunications infrastructure services.
As per the announcement on Tadawul, the contract consists of an 18-month preparation and implementation phase, followed by a 15-year operational period for the project.
The company noted that the project is expected to have a positive financial impact, with revenues recognized in stc’s consolidated financial statements following the commencement of the initial operation phase.
