MIS signs 2 contracts worth SAR 167.7M

Al Moammar Information Systems Co. (MIS) signed two contracts worth SAR 167.66 million, including VAT, according to two separate statements to Tadawul.

The first contract was signed with Saudi Electricity Co. (SEC) to provide network management, communication, and operation services worth SAR 86.46 million.

This contract covers operations transfer and network services, as well as operations support for network, communication, collaboration, and call centers.

Valued at SAR 81.2 million, the second contract with the Ministry of Justice involves providing technical support to enhance the ministry's software and system performance.

Both contracts last 36 months. The first contract is expected to have a positive financial impact between Q4 2024 and Q4 2027, while the second contract's impact will appear in Q2 2024.

There are no related parties involved in either of the contracts, the statements added.