MIS receives new orders to increase data centers capacity for SAR 82.5M

Al Moammar Information Systems Co. (MIS) has received new awards to increase the data centers’ capacity at a value of SAR 82.55 million (including VAT), according to a statement to Tadawul.

Any material developments will be announced in due course.

MIS signed on July 4, 2021, agreements for the development, design, and management of data center facilities with Saudi Fransi Capital (SFC), data compiled with Argaam showed.

SFC is the manager of the proposed private investment fund, for which a memorandum of understanding (MoU) was signed nearly a month ago. The Sharia-compliant fund will invest in and own six data centers in the Kingdom at an estimated budget of SAR 1.2 billion as a first phase.

MIS was named the developer and designer that will undertake the design, development, and execution of six data centers, on a turnkey basis, with an initial capacity of four megawatt each.