Tawal acquires KAEC telecoms towers
stc subsidiary Tawal has signed a strategic partnership agreement with King Abdullah Economic City (KAEC).
Under the agreement, Tawal, an ICT infrastructure provider in Saudi Arabia, will provide ICT infrastructure solutions for the city aimed at improving the efficiency of KAEC’s telecoms network through the adoption of best practices and international standards.
In addition, Tawal will acquire all the towers owned by the city, as well as the in-building solutions, and will manage and operate these assets for telecom service providers.
“King Abdullah Economic City is one of the most important and promising smart cities in the Kingdom, and one of the Kingdom’s most vital economic projects. This agreement will contribute to expanding the scope of our operations and services and increasing the number of towers owned by the company in all regions of the Kingdom," said Mohammed Alhakbani, CEO of Tawal.
"Through this agreement, TAWAL will play a greater role in strengthening the ICT infrastructure sector. This will, in turn, enable our customers and partners to adopt the latest technologies. In line with Saudi Vision 2030, we strive to enhance our capabilities, meet the demand for increased connectivity, and support digital transformation.”
The agreement was signed during the Future Investment Initiative summit in Riyadh earlier this month in the presence of Alhakbani, and KAEC CEO, Cyril Piaia.
During the signing ceremony, Alhakbani thanked the management of King Abdullah Economic City and commented that the agreement will bolster its strategy to expand its footprint to all regions of the Kingdom.
“We are pleased to be partnering with Tawal. Together, we will establish a world-class telecommunications network in King Abdullah Economic City the Economic City — a network developed and implemented in accordance with the highest approved standards," said Cyril Piaia, CEO of King Abdullah Economic City.
"Set up to empower operators and experienced specialists to contribute to the development of KAEC, we will distinguish this network as a ready platform fully geared to achieving our desired development goals.”