Edarat inks SAR 126M contract with MIS

Logo of Edarat Communication and Information Technology Co. (Edarat)

Edarat Communication and Information Technology Co. (Edarat) signed on Oct. 31 a three-year contract with Al Moammar Information Systems Co. (MIS) to provide support services for Sahayeb Data Centers, according to a statement to Tadawul.

The estimated value of the initial purchase order for the first 19 months of the contract is SAR 125.77 million (VAT included).

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Any related developments will be announced in a timely manner, the statement added.

Edarat expects the financial impact from the contract to appear from Q2 2024 until the end of 2025. MIS is a related party as it owns 30% of Edarat, the statement noted.

In a separate statement, MIS said that no immediate financial impact can be determined at this time regarding this agreement, as its cost is covered within the main project’s budget.

Accordingly, the positive financial impact will be realized from the revenues of the primary contract.

The contract was awarded to in June, Argaam earlier reported.