Saudi Arabia’s Al-Moammar Information Systems Company (MIS) has bagged new orders to expand the capacity of two data centres in Dammam at the cost of 155.43 million Saudi riyals ($41.45 million).

The order is part of the second phase of increasing the capacity as per the customers’ needs and demand in conjunction with the ongoing implementation work of the first phase, MIS said in a statement to the Saudi stock exchange on Sunday.

In July 2021, MIS signed an agreement with Saudi Fransi Capital to develop, design, and manage data centre facilities through a Shariah-compliant fund. The fund will invest in and own six data centres in the country at an estimated budget of SAR1.2 billion in the first phase.

(Writing by D Madhura; Editing by Anoop Menon)


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