Saudi Telecom Company (STC), the country’s leading telco in terms of subscribers, has signed an agreement with Medina Knowledge Economic City (KEC), one of the six planned economic cities in the Kingdom of Saudi Arabia, to build and develop the city’s telecom infrastructure, including 40km of fibre-optic connections. The preliminary stage of the project is expected to be completed by the end of 2013 and the first phase is expected to be finalised in 2016. Under the build-operate-transfer (BOT) agreement, by the end of the first phase STC must develop an infrastructure network for the 10,000 residential units, which can accommodate 32,000 people.
TeleGeography notes that the USD7 billion KEC is located in Medina, and is expected to be completed in 2020. The project, which was launched in June 2006 by King Abdullah bin Abdul Aziz, will ultimately house a population of 150,000 and is projected to accumulate around SAR10 billion (USD2.67 billion) a year when completed.