Riyadh – Al Moammar Information Systems (MIS) has been awarded contracts worth SAR 800 million to carry out construction projects in Saudi Arabia.
Upon the agreement signed with Saudi Fransi Capital, MIS will develop, design, and manage facilities for six data centres with a capacity of 24 megawatts in the Kingdom, according to a bourse disclosure on Thursday.
Developing the data centres is expected to be completed within the coming 14 months. Meanwhile, the budget of the first stage of the project totalled SAR 1.20 billion.
The Saudi listed company pointed out that it will pen additional contracts for the remaining works in the coming weeks, adding that it will disclose any further developments about the project.
Last August, the two parties inked a memorandum of understanding (MoU) to set up a private investment fund at a value of SAR 150 million.
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