MIS inks agreement with HUMAIN worth over SAR 8.7B

Al Moammar Information Systems Co. (MIS) signed an agreement with HUMAIN to expand the scope of work for the design and construction of data centers dedicated to AI technologies, increasing capacity from 50 MW to 250 MW.

The award letter was received on Aug. 25, the company said in a Tadawul statement, adding that the agreement value exceeds 689% of the company’s total revenue in 2025, including VAT.

The agreement is likely to have a positive financial impact from the date the work orders are received, MIS said, adding that work orders will be issued sequentially and will be announced upon receipt, including the periods in which their financial impact will be recognized.

The company additionally confirmed that engineering, procurement and construction (EPC) works will be carried out under work orders issued by HUMAIN in accordance with the terms of the agreement signed between the parties. MIS will also announce any work orders or material developments, including their value, execution periods and financial impact, upon receipt, in accordance with the relevant regulations and instructions.

This agreement replaces the contract announced on Tadawul on March 5, 2026, without affecting the value, progress of work or financial impact of the previously announced contract, which had a positive financial impact starting from Q2 2026.

According to company data on Argaam, MIS signed a contract with HUMAIN last March worth more than 155% of the company’s total 2024 revenue, including VAT.

MIS reported revenue of around SAR 1.27 billion for 2025, with 689% of this amount equivalent to approximately SAR 8.76 billion.