STC’s nine-month revenues and net profit reached SR56.6bn and SR11.2bn, respectively
Saudi Telecom Company (STC) has announced signing a contract worth SR32.64bn with a Saudi government entity.
The contract covers the build, operation and provision of telecommunications infrastructure services over 15 years.
STC did not disclose the name of the government entity that awarded the contract.
The project duration for the preparation and execution of the project is 18 months, followed by 15 years of project operation, the firm said in a statement issued on 28 January.
In November last year, STC Group announced nine-month revenues and net profit of SR56.6bn and SR11.2bn, respectively.
The firm said at the time that it remains committed to enabling digital transformation in various vital sectors in Saudi Arabia through investment in digital infrastructure such as 5G, fibre optics and data centres.
It added: “The group continued its investment in advanced technologies like cloud computing, Internet of Things and fintech, while enhancing its cybersecurity capabilities.”
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