On 1/8/2017, STC signs implementation agreement for the deployment of broadband services in fiber optic technology in urban areas with the Ministry of Communications and Information Technology in accordance with the terms sheet of the broadband initiatives signed previously with the CITC on 7/5/2017AD, which will be effective from the date of its signing.
The agreement includes financial support amounting about SR 2.7 billion; it is paid in regular installments according to the scope of work carried out, as well as providing some financial and regulatory exemptions. Ownership, operation, management and provision of these services will be for the company. This large project will enable the company to continue to provide the best services to its customers by providing services with high speeds and reliability.
The agreement comes under the patronage of the Ministry of Communications and Information Technology to stimulate investment in broadband services to enhance the Kingdom digital infrastructure, provide high-speed fiber optic broadband services in line with the objectives of the National Transition 2020 Program and contribute to achieve the vision of the kingdom 2030...
Source: STC Press Release
