MIS seeks to boost data centers’ capacity at SAR 2.5B estimated value

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) inked a letter of intent (LoI) with Saudi Fransi Capital on behalf of Saudi Data Centre Fund 1 to expand data centers’ capacity by 64MW, according to a statement to Tadawul.

The capacity expansion of the data centers will have an estimated value of SAR 1.95-2.5 billion, including VAT.

The LoI will be valid for 90 days until both parties reach a final agreement, the statement added.

In July, MIS received new orders to increase the capacity of data centers being developed and designed with Saudi Fransi Capital, totaling SAR 93.03 million (including VAT), data compiled with Argaam showed.

In July 2021, MIS signed development, design and facility management agreements for data centers with Saudi Fransi Capital, as the manager of the proposed private investment fund.