Riyadh, Saudi Arabia — Rawasi Al-Bina Investment Company has signed a five-year framework agreement with Saudi Telecom Company (STC) to roll out external fiber optic networks across Saudi Arabia. The agreement, announced via Tadawul on July 24, supports Vision 2030’s digital transformation goals.

Although the deal’s value remains undisclosed, Rawasi confirmed it is expected to exceed 5% of its 2024 revenue. The final amount will depend on how many work orders STC issues and when implementation begins.

Strategic Fiber Rollout Tied to National Priorities

The agreement includes the design and construction of fiber optic infrastructure. This will help strengthen the Kingdom’s telecom backbone. Rawasi noted that no related parties are involved and that the contract positions it to play a bigger role in Saudi Arabia’s growing digital economy.

The financial impact is expected to appear in the first half of 2026, depending on when STC starts the implementation phase. As demand for data and digital services continues to rise, the need for fast and reliable broadband becomes more urgent. The Rawasi STC fiber network will help meet this need, especially in underserved and high-density areas.

Working with STC—one of the Kingdom’s largest telecom companies—Rawasi expands its involvement in national infrastructure projects. This move supports broader efforts to boost internet access, speed, and service quality nationwide.

 

 

THE SAUDI STANDARD’S VIEW: Fiber Expansion Signals Backbone of Digital Vision

The five-year Rawasi STC fiber network agreement reflects Saudi Arabia’s push to modernize digital infrastructure. While the financial details depend on future work orders, the deal supports Vision 2030’s goal of creating a resilient, high-speed digital environment.

  • Telecom as a transformation engine: This partnership highlights how vital the telecom sector is to economic diversification. Fiber expansion isn’t just about speed—it supports smart cities, digital government services, AI, and tech-led business growth.
  • Empowering national firms: Rawasi’s role shows the Kingdom’s confidence in its local companies. It also reflects ongoing efforts to localize key sectors like ICT and construction, crucial for job creation and skills development.
  • Infrastructure that powers all sectors: Strong fiber networks support many areas, including education, healthcare, logistics, and finance. Rawasi and STC invest in these assets to boost Saudi Arabia’s global digital competitiveness.
  • A flexible, demand-driven approach: The contract’s work-order structure allows phased deployment based on real needs. This aligns with global best practices and shows how Saudi Arabia is adopting smarter, more adaptive infrastructure models.

In conclusion, this agreement strengthens Saudi Arabia’s digital foundations. As Vision 2030 advances, fiber networks like this will act as the core infrastructure of a connected, high-tech economy—built by Saudi companies, for Saudi futures.

 

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