Kingdom Holding & STC Signs Agreement

Kingdom Holding Company (KHC) chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud announced the signing of the agreement with Saudi Telecom Company (STC) to provide Telecom Infrastructure for Kingdom Riyadh Land. The project includes a smart fiber-optic network to provide the project with an integrated information technology solution for all communications and services.

The agreement is the foundation for establishing a smart city based on information and communication technology with a goal to provide outstanding level of services in the region. The infrastructure will be developed according to the highest international standards, including interactive e-services for all project elements such as safety and security, road traffic, monitoring facilities and other services. The signing took place in the presence of Prince Alwaleed Bin Talal and Eng Saud bin Majed Al Daweesh — CEO STC Group.

Eng Talal Almaiman, Executive Director for Development and Domestic Investments, KHC and Jameel Abdullah Al Molhem – CEO of KSA Operations signed the agreement at KHC’s office in Riyadh.

Prince Alwaleed commented: “This significant strategic alliance between Kingdom Holding and Saudi Telecom is a beginning of a long term relationship with STC’s extensive experience in this filed we are confident it will add value to the development of Kingdom’s smart city at a high level of telecommunications standards.”