Arabian Internet and Telecommunication Services Company (SOLUTIONS) announces the signing of a contract with Saudi Telecom Company (stc) (Related Party) to execute the project of establishing and developing the internet and communications networks for the Saudi Telecom Company (stc). SOLUTIONS will execute the project of establishing and developing the internet and communications networks for stc, The scope of work between the two parties, includes the following:
Expansion of internet services projects, that serves the business units of stc, in order to meet the requirements of the growing business sectors with regard to the corporate, individual, and other operators sectors. SAR 298,085,414.12. Fulfill business sector requirements with regards to internet network of stc, by installing data transfer devices. Increase the capacity of the internal and international network of the stc to accommodate the growth in internet services for individuals and companies. Increase the capacity of internal and international network to accommodate the growth in the 5G services.