MIS obtains approvals, licenses to start work on data center subsidiary

02/11/2023 Argaam

MIS obtains approvals, licenses to start work on data center subsidiary

Logo of Al Moammar Information Systems Co.

Al Moammar Information Systems Co. (MIS) announced that it obtained approvals and licenses to begin work in its wholly owned subsidiary, National Excellence Company for Data Centers.

 

The subsidiary was established in line with the development plan of mega data centers across the Kingdom, the company said in a statement to Tadawul. 

 

The plans aim to exceed 1,300 megawatts before 2030, expand the current centers in partnership with Saudi Fransi Capital and boost demand for artificial intelligence (AI) technologies. 

 

National Excellence was established to keep pace with the plans of the Ministry of Communications and Information Technology (MCIT) and the objectives of the Kingdom’s vision to expand the digital economy and consolidate the Kingdom’s role as a regional digital hub for cloud computing. 

 

Last July, MIS’ board of directors approved establishing a 100%-owned subsidiary in Riyadh, specializing in managing, operating, and marketing data centers. 

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