Riyadh – Mubasher: Multi Business Group Company has announced a significant extension to its framework agreement with Saudi Telecom Company (stc) to remain valid until 31 December 2027, according to a bourse disclosure.

Pushing the contract completion date to 2027 ensures the continuity of a major public works project that was originally initiated in mid-2025.

This extension further maintains all existing contractual rights and benefits for the service provider.

In a regulatory disclosure following the close of business on 2 June 2026, Multi Business Group confirmed the signing of Amendment No. 1 to its framework public works contract with stc.

The new agreement effectively extends the partnership operational window, providing a clear roadmap for project execution over the next several years.

The framework agreement serves as a foundational contract under which various infrastructure and public works projects are executed. By extending the duration to the end of 2027, Multi Business Group secures a prolonged period of engagement with stc, the Kingdom of Saudi Arabia's primary telecommunications operator.

A key aspect of the disclosure is the preservation of the original contract integrity. Multi Business Group emphasized that the amendment does not alter the fundamental rights or advantages granted under the initial basic contract. This stability is crucial for the company's operational planning, as it ensures that the terms governing the relationship remain consistent despite the extended timeline.

From a financial perspective, the company stated that the extension does not involve any changes to the project cost structure.

Furthermore, Multi Business Group confirmed that there is no impact on its financial statements related to this update.

The disclosure also clarified that the extension was not necessitated by any delays in the previously announced schedule, as the section regarding delays was marked as not applicable. This suggests the extension is a strategic alignment between the two parties rather than a remedy for project slippage.