MIS awards SAR 800 mln contracts on six data centers project

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co.’s (MIS) board of directors approved awarding SAR 800 million worth of contracts for civil, electromechanical and technical works related to the construction of six data centers with a capacity of 24 megawatts (MW), according to a bourse filing.

The work will be finalized over the next 14 months, MIS said, noting that additional contracts for the remaining work will be awarded over the coming weeks.

Any material developments will be duly revealed, the statement added.

In October 2021, MIS received a notice from SFC, confirming the launch of the Saudi Data Centers Fund 1, which is the first private fund of its kind in Saudi Arabia, Argaam earlier reported.

The company said it received on Jan. 2, 2022, a notice from Saudi Fransi Capital (SFC) to activate the contracts signed between the two parties to build six data centers with a capacity of 24 megawatts (MW), at an initial value of SAR 1.2 billion, as the first phase without delay.