Al-Moammar Information Systems Co. (MIS) received new requests for data centers - which it shares with Saudi Fransi Capital (SFC) - aiming to increase the capacity of two data centers in Dammam at a value of SAR 155.43 million (including VAT), MIS said in a statement on Tadawul.
This is considered the beginning of the second phase to boost the capacity according to customers’ needs and demand, in conjunction with the ongoing implementation work of the first phase.
The financial impact will begin in Q1 until Q3 2024, MIS stated, noting that any developments will be announced in due course. In July 2021, MIS signed agreements for the development, design, and management of data center facilities with Saudi Fransi Capital (SFC), the manager of the private investment fund.
The Sharia-compliant fund will invest in and own six data centers in the Kingdom at an estimated budget of SAR 1.2 billion as a first phase.
MIS was named the developer and designer that will undertake the design, development, and execution of six data centers, on a turnkey basis, with an initial capacity of four megawatt each.