Saudi Telecom signs fiber optic broadband agreement

Saudi Telecom Co will be connecting 1.3 million housing units with fiber optic lines. (Shutterstock)

Saudi Telecom Co (STC) said on Sunday it has signed an agreement with the government of Saudi Arabia to provide high-speed fiber optic broadband services.

The project is expected to cost around  $1.95 billion (7.3 billion riyals), connecting 1.3 million housing units with fiber optic lines, the company said in a bourse statement.

STC will be responsible for connecting 60 percent of the housing units, an STC spokesman told Reuters.

The project is scheduled to be completed by the end of 2020.
 

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Last Update: Wednesday, 20 May 2020 KSA 09:49 - GMT 06:49
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