Saudi -Slushis signed contracts with 'STC' with 651.7 million Riyals

The Arabic Company for Internet and Communications (Slochins) has signed contracts with the Saudi telecommunications business (STC) at a value of 651.7 million rows to implement projects in the field of information technology infrastructure and Oracle software. Contracts include a project to update infrastructure that includes improving computer applications, engineering systems, storage, backup and databases, as well as the renewal of the “Oracle” licensing agreement, according to a company statement on the “tadawul” website. ‘Slons’, which owns STC about 79% of its shares, reported that the financial impact of the contracts will begin to appear from the second quarter of 2025, while the contract period extends to five years. This is the second contract signed by the company with ‘STC’ this year, after a contract signed by a value of 142.4 million Riyals in April last year, and its financial impact is expected to appear in the third quarter of 2025. ‘Slushis’ signed an revenue participation contract last February with the Al -Masar Sports Foundation, which according to the company’s fire range is according to the financial state of 2023. It is expected to be reflected in the results of the first quarter of 2026.