Arabian Internet and Communications Services Co. (Solutions) announced on Sunday the signing of a SAR 142.4 million contract with Saudi Telecom Co. (STC), a related party, to implement a project for the establishment and development of STC’s internet and communications networks.
According to the statement published on Tadawul, the project will span 36 months and will include the following key elements:
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Expansion of existing and new network elements (NEs).
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Provision of supply, installation, integration, and testing services for equipment, tools, software, and systems.
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Increasing internal network capacity to accommodate the growth of RAN services.
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Building internal network infrastructure across nine sites in five main regions of the Kingdom: Central, Eastern, Western, Northern, and Southern.
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Provision and integration of DC-GW PE devices to connect the LTE core network to the IP/MPLS network.
The company noted that the financial impact of the contract is expected to be reflected in its financial statements starting from the third quarter of 2025.
It is worth noting that STC is the largest shareholder in Solutions, holding a 79% stake.
