MIS signs SAR 51 mln contract with NEOM

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) signed today, Oct. 31, a contract with NEOM at a total value of SAR 51 million, inclusive of 15% value-added tax (VAT), MIS said today in a statement to Tadawul.

MIS will provide proposal, advice, and audit services and establish applied research cooperation with research institutions. The outputs will be in line with NEOM’s stated goals in the field of emerging technology, cognitive computing, artificial general intelligence, etc.

The contract is valid for 16 months, with no related parties. MIS expected the relevant financial impact to show starting from Q1 2023.