Edarat signs contract with BSF Capital, bags SAR 101.3M project from Tadawul

17/02/2025 Argaam
Logo ofEdarat Communication and Information Technology Co.

Logo of Edarat Communication and Information Technology Co.

Edarat Communication and Information Technology Co. signed today, Feb. 17, a contract with BSF Capital to provide Sahayeb Data Centers retail services to local and international clients.

 

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In a statement to Tadawul, the company said the five-year contract aligns with its expansion strategy and objectives, including diversifying its infrastructure services.

 

The agreement aims to share revenue generated from the retail sale of data center services to local and international clients, with Al Moammar Information Systems Co. (MIS) identified as a related party.

 

Edarat expects the annual revenue from this contract to exceed its total revenue for 2024. The company also plans to expand capacity in line with its growth strategy, projecting a 400% increase from its current capacity.

 

The financial impact of this contract will be reflected in the company’s financial statements starting Q1 2025.

 

In a separate statement, Edarat announced securing a project from Saudi Tadawul Group Holding Co. (Tadawul Group) to provide data center hosting services valued at SAR 101.31 million, including VAT.

 

The company expects to sign the contract on Feb. 24, noting that there are no related parties to the deal.

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