MIS Signs Framework Agreement with Saudi Data Centre Fund 1 to Expand Existing Data Centres

Al Moammar Information Systems Company (MIS) announced on Wednesday the signing of a framework agreement with Saudi Data Centre Fund 1 to expand its existing data centres with an additional capacity of up to 112 megawatts, in addition to the possibility of developing new data centres in the future.

The Company stated in a statement on Tadawul that the value of the agreement is determined based on the receipt of development notices from Saudi Data Centre Fund 1.

According to the Company, the contract will be for a period of 36 calendar months, and the financial impact of this contract is likely to be positively reflected in its results starting from the date of receipt of the first development notice after agreement between the two parties (noting that requests received in sequence will be announced in due course, including the periods during which they will be reflected).

It is worth noting that MIS was the contractor responsible for the design and construction of the initial 32-megawatt capacity currently under development. It also manages the operation of these existing data centre sites.