LONDON—Saudi Telecommunications Company (STC) has announced it has awarded a joint contract to Swedish telecom heavyweight Ericsson and Finnish mobile giant Nokia. Under the terms of the deal the two companies will undertake a project to expand the kingdom’s mobile-phone network.
STC did not reveal the value of deal. However, it did confirm that the deal will allow the addition of up to 2.8 million lines at an average cost of $242.4 per line by the end of 2002.
The STC statement said Ericsson and Nokia have also been awarded “framework contracts” to supply the Saudi operator with equipment. Again, no indication of value was given by STC.
Saudi Telecommunications awards joint contract to Ericsson, Nokia
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