Riyadh - Mubasher: The Arabian Internet and Communications Services Company (Solutions) announced that it signed a contract with the Saudi Telecom Company (STC) on Monday, April 21, 2025, to implement a project to establish and develop STC's internet and communications networks, at a value of SAR 142.4 million.

The company explained in a statement on Wednesday on the Saudi Stock Exchange (Tadawul) that the contract involves implementing a project to establish and develop STC's internet and communications networks, in accordance with the scope of work defined by the two parties.

She explained that the contract's most prominent features include expanding existing and new network points, as well as supply, installation, integration, and testing services for equipment, tools, software, and systems.

Solutions added that under the contract, the internal network capacity will be increased to accommodate the growth in internet services, and an internal network infrastructure will be established in nine locations across five main regions of the Kingdom: central, eastern, western, northern, and southern. The contract also includes the provision of dedicated DC-GW PE terminals for connection to the IP/MPLS network, as well as the supply, installation, integration, and testing of hardware, equipment, software, and systems.

She explained that the contract term is 36 months, and that the financial impact is expected to appear in the company's financial statements starting in the third quarter of 2025. She noted that STC is the largest shareholder in the company, owning 79% of Solutions shares.