Under the deal, MIS will be responsible for designing, constructing, and managing the centers
Al-Moammar Information Systems or MIS announced that it will start building six data centers across the Kingdom at an initial value of SR1.2 billion ($320 million) as per a deal with Saudi Fransi Capital, or SFC.
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A notice from SFC activated contracts signed between the two parties, and It stated their intention to complete the first phase of the data centers initiative without delay. Earlier in October 2021, MIS partnered with SFC to launch a fund, namely Saudi Data Center Fund 1. This aimed to establish the six data centers in two areas, with a combined initial capacity of 24 MW.
The first-of-its-kind fund in the Kingdom, as claimed by the related parties, set the target size at SR1.5 billion. Under the deal, MIS is responsible for designing, constructing, and managing the centers.
