solutions signs SAR 142.4M contract with stc

Arabian Internet and Communications Services Co. (solutions) signed, on April 21, a contract with stc to establish and develop stc’s internet and telecommunication networks, at a total value of SAR 142.4 million.

In a statement to Tadawul, the company said the contract includes expanding existing and new network nodes, as well as providing supply, installation, integration, and testing services for equipment, tools, software, and systems, in accordance with the agreed scope of work between the two parties.

Under the agreement, the internal network capacity will be upgraded to accommodate growing internet service demands.

The project also involves the development of internal network infrastructure across nine sites located in five main regions of the Kingdom: Central, Eastern, Western, Northern, and Southern, the statement added.

The scope includes providing dedicated DC-GW PE terminals for IP/MPLS network integration, along with the supply, installation, integration, and testing of related hardware and software.

The financial impact of the 36-months contact is expected to be reflected starting from Q3 2025.

The statement pointed out that stc is the largest shareholder in solutions, owning a 79% stake.