Saudi Arabia's stc Group secures SAR32.64bn government contract
Image credit: Angel Garcia/ Getty Images
Saudi telecoms group (
The telecom giant said in a bourse filing that the contract has a duration of 18 months for preparation and execution, followed by 15 years of project operations.
stc said that the financial impact of the contract would be positive, and revenue will be recognised after the project becomes operational, which is expected to occur in Q4 2026 and continue till the end of the contract.
Meanwhile, Saudi Arabia's Public Investment Fund (PIF) raised
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