stc Wins $800 Million Silklink Telecom Infrastructure Project in Syria

Saudi Telecom Company (stc) announced that it has been awarded the Silklink telecommunications infrastructure project in Syria, in partnership with the Syrian Sovereign Fund, with a total value of approximately $800 million, according to a disclosure filed with Tadawul.

The contract was secured following a competitive bidding process involving several regional telecom operators, reinforcing stc’s position as a leading regional digital enabler and reflecting its continued expansion in cross-border infrastructure investments.

The Silklink project aims to strengthen Syria’s telecommunications infrastructure and enhance its regional and international connectivity through the deployment of a fiber-optic network exceeding 4,500 kilometers, alongside the development of data centers and international submarine cable landing stations.

The project is expected to increase data transmission capacity and improve network reliability, while enabling advanced connectivity services for operators across Syria and the wider region. It will also support digital transformation initiatives, cloud computing, and Internet of Things (IoT) applications, contributing to improved internet quality and digital efficiency.

This project aligns with stc’s broader strategy to invest in regional digital infrastructure and establish interconnected networks linking Arab, Asian, and European markets, further strengthening its leadership in telecommunications and digital services.

Under the partnership structure, stc will hold a 75% stake, while the Syrian Sovereign Fund will retain 25% of the project.