May 7, 2017 / 6:50 AM / 5 months ago

Saudi Telecom signs on to Saudi's fiber upgrade

DUBAI, May 7 (Reuters) - Saudi Telecom Co said on Sunday it has signed an agreement with the government of Saudi Arabia to provide high-speed fiber optic broadband services in the kingdom.

The project is expected to cost around 7.3 billion riyals ($1.95 billion), connecting 1.3 million housing units with fiber-optic lines, the telcom said in a bourse statement. ($1 = 3.7503 riyals) (Reporting by Alexander Cornwell, editing by Larry King)

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