A billion dollar investment | business thread


RIYADH, Saudi Arabia–(BUSINESS WIRE)–stc Group, the leading digital enabler, has inaugurated one of its largest and most important projects, Center3 Company, the regional digital center for the Middle East and North Africa. The new company will own digital infrastructure assets owned by stc Group, including data centers, undersea cables, international points of presence and internet exchange points. The inauguration took place in the presence of HRH Prince Mohammad bin Khalid Al Abdullah Al-Faisal, Chairman of the Board of Directors of stc Group, His Excellency the Minister of Communications and Information Technology, Eng. Abdullah Alswaha, and a number of excellences and senior executives from stc group.

Center3 will be a carrier-neutral group of data centers and an international communications provider for the telecommunications industry via an undersea fiber optic network. It aims to develop digital businesses and improve investment opportunities in international communication services and data centers by providing the latest communication and hosting technologies and increasing the capacity of data centers to meet the needs Asian, European and African markets, and the rest of the world. the world.

“stc group launched Center3 to improve the digital system, to help strengthen Saudi Arabia’s position as a regional digital hub, and this is in line with our strategy to expand reach and markets to achieve the ‘digital empowerment,’ said Eng. Olayan Alwetaid, Group CEO stc.

“At Center3, we aim to build an integrated cable and data center ecosystem to attract hyper-scalers, big data, local and international service providers,” said Fahad Alhajeri, CEO of Center3.

“Center3 will provide international communication, internet exchange and data center services. We will work to realize the company’s vision of making Saudi Arabia the leading digital hub connecting the three continents Asia, Europe and Africa, and to direct the largest share of Internet exchange and data traffic in the region,” Alhajeri added.

With the launch of Center3, stc Group will have completed the pursuit of the digital system by launching several companies specializing in cybersecurity, artificial intelligence, cloud computing, Internet of things and digital infrastructure. This will help transform the digital industry into a leading industrial powerhouse and a global logistics hub, which will put Saudi Arabia at the forefront of global countries in transforming business environments.

Previous to LEAP, the international conference, stc Group announced the launch of an initiative to establish a main digital center for the MENA region with an investment of 1 billion dollars, with the aim of enabling the growth of the economy and of Saudi Arabia’s GDP. This is done in cooperation with regional and international partners. In addition, the group had recently inaugurated the submarine cable “Saudi Vision Cable”, a high-speed submarine cable in the Red Sea, via its first landing station in Jeddah, which extends over a distance of 1 160,000 meters, and offers high-speed access across Saudi Arabia’s borders via four landing stations: Jeddah, Yanbu, Dhaba and Haql.

*Source: AETOFil


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