Saudi Arabia’s solutions inks $79.46mn contract with STC

By Shilpa Annie Joseph, Official Reporter
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Saudi Arabia’s Arabian Internet and Telecommunication Services Company (solutions) has signed a $79.46 million (SAR 298.08 million) worth contract with Saudi Telecommunication Company (STC), the largest digital enabler in the Middle East and Africa (MEA), in order to establish and develop the internet and communications networks for STC.

The project comprises the expansion of internet services networks that serve the business units of Saudi Telecommunication Company to meet the requirements of the growing business sectors, according to a bourse filing.

Under the 24-month contract, solutions will install data transfer devices and raise the capacity of STC’s internal and international network and the infrastructure for virtual broadband devices.

According to the statement, “Furthermore, an internet infrastructure will be established in the new data centers in Khamis Mushait, Dammam, Qassim, and North of Riyadh.”

Solutions provides holistic, end-to-end technology solutions that will help transform the organization. Furthermore, the company intends to offer innovative technology solutions that enable the customers to succeed in evolving market needs.

Recently, Solutions signed a sharia-aligned credit facility agreement with the Saudi National Bank (SNB) in order to obtain $266 million (SAR 1 billion).

Last month, STC successfully deployed a multi-layer 4G and 5G NSA network on the O-RAN platform in collaboration with Mavenir, the leading digital enabler in the region. Mavenir setup was hosted on a fully cloud-native Mavenir web-scale platform, which showcases the true potential of O-RAN technology to transform Radio Access Networks towards an Open and Fully Interoperable RAN, according to the company.

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