Over US$billion to be invested in Saudi Arabia fiber network
Saudi Arabia's Integrated Telecom Company (ITC) has signed a SAR 4 billion (US$1.06 billion) Fiber Network Expansion Agreement with the Korean Middle East Engineering Company (KOMEE) to increase its network coverage by 10,000 kilometers.
The agreement, one of the largest in the Kingdom’s telecommunications sector, was signed by Engineer Ghassan Itani, CEO & President of Integrated Telecom Company (ITC), and Dr. Jong Man Kwon, President & CEO of KOMEE.
The South Korean embassy’s Commercial Attaché attended the signing ceremony, along with officials from the two companies, the Saudi Communications & Information Technology Commission (CITC) and members of the media.
In a press conference that accompanied the signing, Eng. Itani stressed the significance of this deal, and indicated that it would solidify ITC’s status as a major player in the Saudi telecommunications sector. He added that the project would be implemented in four phases, starting in February, following the completion of the Saudi National Fiber Network (SNFN), a 16,000-kilometer network that has been built over a period of four years to link the Kingdom’s cities and provinces.
Eng. Itani said that the project with KOMEE would leverage the advantage of ITC’s ownership of two independent Cable Landing Stations in Jeddah and Khobar. These facilities already enable ITC to connect its clients in the Kingdom and abroad through submarine cables, complementing ITC’s terrestrial links with GCC and other neighboring countries.
Eng. Itani added, that the project will lend major support to the CITC’s efforts to enhance the Kingdom’s telecommunications sector, by actively contributing to the Kingdom’s strategic educational, governmental and economic development.
Dr. Jong said that KOMEE is delighted to be able to serve its clients through this agreement, both in the Kingdom and abroad. He added that the Saudi telecommunications sector is one of the world’s fastest-growing.
Dr. Jong reiterated KOMEE’s commitment to implement the project, in co-operation with Saudi national contractors, according to the highest international standards.
It is important to note that Korea has the world’s second most-advanced fiber optic infrastructure, with one of the most modern networks in the world.
Established in 2005, Integrated Telecom Company (ITC) is a leading national telecommunications company, licensed by the CITC to provide data, , satellite and broadband solutions at speeds of up to 1 Gbps for corporate clients and up to 100 Mbps for individuals.