Riyadh – Saudi Telecom Company (stc) announced launching Center3 with an investment value of $1 billion to promote digital economy growth in Saudi Arabia.
The new company will own the digital infrastructure assets owned by the STC group, including data centres, submarine cables, and internet exchange points (IXPs), according to a recent press release.
The launch of Center3 aims to enhance the digital system which will in turn cement the kingdom’s position as a regional digital centre. The launch comes in line with STC’s strategy aimed at expanding the company’s footprint and achieving digital empowerment.
Furthermore, Center3 aims to establish an integrated system of cables and data centres in an effort to attract big data, supercomputing, as well as local and global service providers.
Center3 will provide various services that include data centres, international communication, and internet exchange through its assets. The company will work to achieve its vision of making the kingdom the main digital hub, connecting Asia, Africa, and Europe while leading internet exchange and data movement across the region.
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