Top 100 Companies in the Middle East 2021

SR.No: 8

Saudi Telecom Company (stc)

Sector: Telecommunications

Date of Establishment: 1998
Country: Saudi Arabia
Group CEO: Olayan M. Alwetaid

Sales: $15.7 billion

Profits: $3 billion

Assets: $32.5 billion

Market Value: $67.7 billion

Saudi Telecom Company (stc) is the biggest telecom operator in Saudi Arabia in terms of revenue. In January 2021, stc, in partnership with Saudi Aramco, announced the launch of Dammam 7, a new supercomputer that will be among the top ten most powerful in the world. Olayan M. Alwetaid was appointed Group CEO in January 2021, and began working in the role in March. Previously he was senior VP for the consumer sector and the CEO of stc Bahrain.