Saudi Arabia’s Al Moammar Information Systems Co (MIS) has announced the launch of the country’s first private data centre fund after signing a contract with Saudi Fransi Capital.

In a bourse filing, MIS said Saudi Data Centers Fund 1, which has a target fund size of SAR 1.5 billion (400 million) is being launched in cooperation with financial services company Saudi Fransi Capital.

MIS will act as the design-builder at the construction phase and the fund will be used to build and operate six data centres.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

Imogen.lillywhite@refinitiv.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here. 

© ZAWYA 2021