Al Moammar Information Systems (MIS) has been awarded contracts worth $213mn (SAR 800mn) to implement civil, electromechanical, and technical works for six data centres in Saudi Arabia.
Under the terms of the agreement with Saudi Fransi Capital (SFC), the firm will develop, design, and manage facilities for the data centres which will have a capacity of 24 megawatts, it notified on Tadawul.
MIS partners with subsidiary for data centre services
The data centres are expected to be completed within the coming 14 months, and the budget for the first stage of the project is reportedly $320mn (SAR 1.2bn).
The Saudi listed company pointed out that it will also pen additional contracts for the remaining works in the coming weeks, and that the further developments will be disclosed at a later date.
Additionally, Al Moammar Information Systems, in January 2022, inked a $23mn (SAR 84.5mn) contract with its subsidiary Edarat Communications and Information Technology Co. following the approval of its board of directors.
Valid for 18 months, it has been reported that Edarat will provide data centre services to the Saudi information services company.
Furthermore, SFC and MIS had inked a memorandum of understanding to set up a private investment fund at a value of $40mn (SAR 150mn) in August 2020.
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