stc’s $1bn MENA Hub to build Asia-EU subsea cable with TTSA
stc group’s $1 billion MENA Hub is to build the East to Med Data Corridor (EMC) subsea and terrestrial fibre-optic cable that will connect Europe with Asia, with Greek telco TTSA.
The news comes following the launch of stc’s MENA Hub back in February 2022, the new company was established with a $1 billion investment from stc and will become the home of all of its data centre and subsea assets, as well as future infrastructure projects.
“This important signing represents another validation of the execution of our DARE2.0 strategy as we build out our complete digital ecosystem at expanding scope, increasing scale and accelerating pace," said Eng Olayan Mohammed Al Wetaid, Group CEO of stc.
"We are pleased to be building out even further our integrated system for the benefit of our clients and customers, as we look to further establish our digital credentials and contribute to Vision 2030 and become a leading digital company and regional digital hub linking three continents.”
Details of the exact landings, length and technical specification of the EMC system have yet to be disclosed by either company.
Through this project stc MENA Hub aims to meet its goal of increasing global connectivity and data centre capacity across Asia, Europe and the rest of the world through Saudi Arabia.
Alongside this stc has also developed separate but interconnected IoT businesses to enable greater efficiency of multiple operations from running multi-billion-dollar manufacturing or logistics facilities.
At the same time, sirar, stc’s cybersecurity arm, is well placed to meet these current and future requirements as they arise.
In related news, June saw solutions by stc signed a sale and purchase agreement to acquire 89.49% of Giza Systems Company, an information technology company that provides services that include systems and applications integration in addition to emerging technologies.