MIS signs MoU with BSF Capital to study expansion of 3 data centers

The MoU will remain valid for 90 days from the signing date

Al Moammar Information Systems Co. (MIS) signed a memorandum of understanding (MoU) with BSF Capital, acting on behalf of Saudi Data Center Fund 1, to study and evaluate the expansion of three additional data centers with a combined estimated capacity of about 48 megawatts.

 

The MoU will remain valid for 90 days from the signing date and may be extended by mutual written agreement, MIS said in a statement to Tadawul.

 

Under the memorandum, the fund will assess the development of three data centers in Riyadh, Dammam, and Jeddah. MIS will act as the developer, designer, and contractor for the projects, while also providing ongoing asset and facility management services.

 

MIS deals with BSF Capital

Date

Deal

Details

July 2021

Agreement to develop 6 data centers

MIS and BSF Capital signed an agreement for the development, design, and management of six data centers owned by Saudi Data Center Fund 1, with an initial investment estimated at around SAR 1.2 billion.

July 2024

Joint agreement with Microsoft Arabia

MIS signed joint agreements with Microsoft Arabia and Saudi Data Center Fund 1 to provide data center hosting and operation services for a period of 10 years, with options to increase contracted capacities.

September 2024

A letter of intent to boost data centers’ capacity

MIS signed a letter of intent with BSF Capital to study the expansion of existing data centers through additional capacity of up to 64 megawatts, with an estimated investment ranging between SAR 1.95 billion and SAR 2.50 billion, inclusive of VAT.

July 2025

Framework agreement to expand existing facilities

MIS signed a framework agreement to expand existing facilities and develop new data centers with a total capacity of up to 112 megawatts. The company subsequently received its first notice to proceed with the development of 72 megawatts, with an estimated value of nearly SAR 3 billion.

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