stc and KACST ink MoU on satelitte communications
King Abdulaziz City for Science and Technology (KACST) and stc have signed a memorandum of understanding (MoU) to jointly develop telecoms satellite services in Saudi Arabia.
The agreement was signed during this year's International Defense Exhibition held in Riyadh, attended by Riyad Saeed Moawad, CEO of the Business Sector at STC, and Dr Hassan bin Yahya Al Ayedh, director general of international cooperation and partnerships at KACST.
Through the collaboration both parties aim to cooperate on the development of satellite products such as remote sensing, earth observation, space science and its applications. Included within the scope of this project is the development of an interactive portal to processing of customer requests for satellite image products resulting from this partnership.
In addition, the two will explore options for satellite image products produced by KACST using STC infrastructure, aimed at the institutional and consumer sector in a way that contributes to increasing opportunities in the various market and client sectors in the field of image services, in a bid to serve national needs.
At the same time, STC and KACST will invest in joint capabilities in research and technical fields as well as engaging young talent particularly in developing services and products offered by KACST. Additionally, the two aim to increase their respective market shares of through joint business opportunities and adding new subscribers.
There is also scope for KACST to develop its services using stc’s cloud network and using STC's MPLS network to provide the internet protocol virtual private network (IPVPN) service.
In related news, earlier this month STC Bahrain launched a Chainlink node through which it will provide smart contracts – and it is claiming a first for major telcos in the MENA region. STC Bahrain will use the node to support Chainlink Price Feeds, decentralised oracle networks that supply financial market data to DeFi.