MIS inks 2 contracts worth SAR 82.2 mln

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) signed two VAT-inclusive contracts with Rabigh Refining & Petrochemical Co. (Petro Rabigh) and General Authority of Civil Aviation (GACA), at a total value of SAR 82.2 million. 

In two separate statements to Tadawul, the company pointed out that the five-year contract with Petro Raghib is valued at SAR 52.3 million. 

The contract includes a computer systems license draft agreement for major customers, MIS noted, adding that a positive impact is expected to be reflected on the company’s Q2 2023 results up to the second quarter of 2027. 

MIS signed a three-year contract with GACA at total value of SAR 29.9 million.

It includes a renewed agreement on computer systems licenses and technical support services for 2023.

A positive financial impact is expected to reflect starting Q2 2023 to Q2 2025.

There are no related parties to any of both deals, the statement added.