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Saudi’s ITC inks cable network deal

Saudi-based Integrated Telecom Co has said it has signed a SR4bn ($1.1bn) agreement with Korea Middle East Engineering Co (Komee) to expand the country's optical cable network, Reuters has reported. The Korean firm will install 10,000 kilometres of fibre optics within the kingdom over the next four years, Ayad Al Khwaiter, director of regulatory affairs at ITC said. "Financing will be from Komee and local and international banks. The first phase will be completed within six months, installing 550 kilometres inside Riyadh," he said.