MIS to boost data centers’ capacity at SAR 2.5B

Al Moammar Information Systems Co. (MIS) inked a letter of intent (LoI) with Saudi Fransi Capital on behalf of Saudi Data Centre Fund 1 to expand data centers’ capacity by 64MW, according to a statement to Tadawul.

The capacity expansion of the fund data centers will have an estimated value of SAR 1.95-2.5 billion, including VAT.

The LoI will be valid for 90 days until both parties reach a final agreement. The letter of intent shall automatically terminate upon the entry into definitive agreements or otherwise upon the expiry of the 90-day period, the statement added.

In July, MIS received new orders to increase the capacity of data centers being developed and designed with Saudi Fransi Capital, totaling SAR 93.03 million (including VAT), data compiled with Argaam showed.