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Arabian Internet and Communications Services Co. (solutions) announced a SAR 132.4 million contract with Saudi Telecom Company (stc) to design, equip, and upgrade digital infrastructure for a data center network supporting cloud services. The three-year agreement covers hardware, systems, and technical solutions supply and installation. The financial impact is projected to start in Q4 2026, with stc noted as solutions' largest shareholder (79% stake). This partnership highlights Saudi Arabia's push for digital infrastructure under Vision 2030, aligning with the country's cloud computing and data center expansion goals. For markets, the deal strengthens ties between two major Saudi firms, potentially boosting solutions' revenue visibility and stc's cloud capabilities. Traders may watch for project milestones and quarterly earnings updates. Future developments to monitor include contract execution progress and broader regional tech sector trends.
