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Saudi Telecom signs deal to offer high-speed fibre optic broadband services

Saudi Telecom signs deal to offer high-speed fibre optic broadband services

The project is expected to cost around $1.95bn

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

The project is expected to cost around SAR7.3bn ($1.95bn), connecting 1.3 million housing units with fibre optic lines, the company said in a bourse statement.

STC will be responsible for connecting 60 per cent 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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