stc launches billion-dollar connectivity company, Center3
stc Group has inaugurated its Center3 Company, the regional digital centre for the Middle East and North Africa.
The new company will own the digital infrastructure assets owned by stc group, including data centres, subsea cables, international points of presence, and internet exchange points.
"The stc Group launched Center3 to enhance the digital system, which in turn will contribute to enhancing the Kingdom's position as a regional digital centre. This launch is in line with our strategy to expand the scope and markets to achieve digital empowerment," said Olayan Alwetaid, CEO, stc Group.
Announced earlier this year, the $1 billion MENA Hub was launched in the presence of Prince Mohammad bin Khalid Al Abdullah Al-Faisal, chairman of the board of directors at stc Group; Abdullah bin Amer Alswaha, the Minister of Communications and Information Technology; as well as a number of dignitaries and senior executives from stc Group.
"At Center3, we aim to build an integrated ecosystem of cables and data centres that seeks to attract Hyper-scalers, big data, and local and international service providers,” said Fahad Alhajeri, CEO of Center3.
Center3 will comprise of a group carrier-neutral data centres and a subsea fibre-optic network. Its goal is to develop digital businesses and bolster investment opportunities in international communication services and data centres by providing communication and hosting technologies and to meet the demands across Asia, Europe, Africa, and as well as the rest of the world.
"Center3 will provide data centre services, international communication and Internet exchange services through its assets. We will work to achieve the company's vision of making the Kingdom the main digital hub connecting the three continents Asia, Europe, and Africa. as well as leading the largest share of Internet exchange and data traffic in the region,” added Alhajeri.
In related news, stc recently launched the Saudi Vision Cable subsea cable, which crosses the Red Sea through its first landing station in Jeddah spanning 1,160,000 meters and provides connectivity across the borders of the Kingdom of Saudi Arabia through four landing stations in Jeddah, Yanbu, Dhaba, and Haql.