Solutions Signs SAR 157.6 Mln Contract with STC to Build Private Cloud

The Arabian Internet and Communications Services Company (Solutions) announced on Sunday that it signed a contract with Saudi Telecom Company (STC), a related party, to build a private cloud as part of its IT infrastructure modernisation & hyperscaler partnership project.

According to the Company’s statement on Tadawul, the contract is valued at SAR 157.6 million. The financial impact of the project is expected to be reflected in the Company’s financial statements starting in the second quarter of 2025.