Talal Almaiman (left) and Jamil Almilhim sign the agreement in the presence of Prince Alwaleed (standing, second from right) & Saud Al Daweesh (standing, third from right), CEO, STC Group.
RIYADH – Kingdom Holding Company (KHC) chaired by Prince Alwaleed Bin Talal announced the signing of the agreement with Saudi Telecom Company (STC) to provide telecom infrastructure for Kingdom Riyadh Land.
A company statement Saturday said 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.
Alwaleed said: "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."
Almaiman added that "we at Kingdom Holding understand that the world is rapidly changing and we recognize the importance of lifestyle quality; therefore, our vision and objective is to exceed all expectations in light of our global experience STC was selected based on their well-known extensive experience and capability in the telecommunication filed."
Al Daweesh said "we at STC are keen to partner with Kingdom Holding in light of its success with local mega projects and presence globally. This is in line with our belief to work closely with globally experienced companies to build smart cities given our extensive capabilities in this sector." – SG