Riyadh – Mubasher: The Saudi Telecom Company (STC) plans to inject mega investments into different fields over the next three years, said CEO Khalid bin Hussain Biyari.
STC owns strong financing sources and could provide the funding if the need arises, CNBC Arabia reported, citing Biyari as saying.
Investments of the Saudi telecommunications provider are focused in the MENA and North Africa, in addition to its plans to invest in media, information technology, and digital financial services.
STC's expansions may be implemented through acquisitions or any other ways, the top official said.
Given STC had invested large amounts over the previous two years, especially in cloud computing and Internet of Things (IoT).
In mid-January, STC signed an agreement with Oracle to provide cloud computing services for government enterprises and the private sector.
