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MENAFN - Arab News - 18/12/2013
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(MENAFN - Arab News) Knowledge Economic City (KEC) says it has signed a partnership agreement with Saudi Telecom Company (STC) for linking 40 km in the KEC to the fiber technology and establishing the telecommunications infrastructure for the city and developing it, according to Tadawul website.
It says the agreement has been built on BOT basis (Build/Operate/Transfer of Ownership) so that STC develops a smart infrastructure network, operates it, and then transfers its ownership by the end of the concession period to KEC.
The company says KEC will be responsible for the implementation of the civil works, which will be formulated by a contractor in accordance with the criteria established by STC, and under its management and supervision.
The statement says the period of the contract lasts for 15 years from the date of signature and the ownership of the project will be transferred thereafter to KEC without charges, while KEC will be receiving a proportion of the income realized from subscribers within the KEC project.

 






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