stc Group and Syrian Sovereign Fund form JV for SilkLink project

stc Group's partnership with the Syrian Sovereign Fund to establish the SilkLink project, a data center initiative in Syria, represents a significant investment of approximately $800 million. stc Group will hold a 75% stake in the joint venture, with the Syrian Sovereign Fund retaining the remaining 25%. This deal signifies stc Group's expansion into the Syrian market and its commitment to developing data infrastructure in the region. The involvement of Zain Group as a partner further underscores the strategic importance of this project within the telecommunications landscape. The SilkLink project is notable for its size, representing a substantial investment in Syrian infrastructure. The partnership between a major regional player like stc Group and the Syrian Sovereign Fund highlights the potential for foreign investment in Syria, despite ongoing challenges. The project's focus on data centers suggests a forward-looking approach to meeting the growing demand for digital services and data storage in the region. The deal's announcement date of 2026-02-25 indicates a long-term commitment to the project's development and implementation.