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Etihad Atheeb Telecommunication Co. (GO Telecom) announces signing a framework agreement with the Ministry of Communications and Information Technology in the Syrian Arab Republic.
| Element List | Explanation |
|---|---|
| Introduction | Etihad Atheeb Telecom Company (GO Telecom) announces the signing of a framework agreement with the Ministry of Communications and Information Technology of the Syrian Arab Republic on July 24, 2025 (corresponding to Muharram 29, 1447 AH). This agreement aims to enhance digital infrastructure and support digital transformation efforts by establishing data centers, digital infrastructure, a cybersecurity center, and cloud computing services. |
| Memorandum Signing Date | 2025-07-24 Corresponding to 1447-01-29 |
| Counterparty | Ministry of Communications and Information Technology in the Syrian Arab Republic |
| Memorandum Subject | The agreement aims to establish a general framework outlining the terms and conditions governing the cooperation between the two parties. It includes the establishment of two data centers, the development of a cloud computing and backup environment, the creation and operation of a technology platform to support the digital transformation project, the establishment of a cybersecurity center, and the qualification and training of an integrated team to work alongside the Ministry’s team. All activities will be carried out in accordance with the technical specifications and obligations set forth in the agreement and its annexes. It was also agreed that the agreements and contracts signed between the parties and the funding entity will be the mechanism for implementing the financial compensation. |
| Memorandum Duration | Five years from the date of its signing |
| Related Parties | None |
| Financial Impact | The financial impact of the agreement cannot be determined or assessed at this stage, but further developments and updates regarding it will be announced in due course. |
| Additional Information | The framework agreement states that the project's total value may reach (1,955,000,000) one billion nine hundred and fifty-five million Saudi riyals. The scope of work, financial compensation, and payment schedule will be determined based on work orders added later to this agreement. The signing of this framework agreement is part of GO Telecom efforts to expand regionally and contribute to developing the region's digital infrastructure, which aligns with its strategic directions. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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