Riyadh - Mubasher: Multi Business Group Company has renewed its framework contract with Saudi Telecom Company (stc) for an additional three years.

The agreement covers the restoration and improvement of work environments and outlets, according to a bourse filing.

This includes construction, architectural and fit-out works, in addition to electrical and mechanical engineering.

Extended on 17 June 2025, the contract will operate under a zero-estimated value structure, with purchase orders to be issued based on the project’s needs and available budgets.

The financial impact of the deal will be disclosed upon receipt of specific purchase orders.

At the end of March 2025, stc posted 11.04% higher net profits at SAR 3.64 billion, compared to SAR 3.28 billion in the first quarter (Q1) of 2024.