Al Moammar Information Systems Company (MIS) has received new orders worth 82.55 Saudi riyals ($22 million) to increase the capacity of data centres.

The data centres are being developed and designed in collaboration with Saudi Fransi Capital, the company said in a statement to the Saudi stock exchange on Tuesday.

Last month, MIS and financial services provider BSF Capital signed a letter of intent to increase the capacity of data centres in the kingdom by up to 64 megawatts in a deal with an estimated value ranging between SAR 1.95 billion and SAR 2.5 billion.

In July 2021, the company signed an agreement with Saudi Fransi Capital, the manager of the Shariah-compliant private investment fund, which will invest in developing, designing and managing six data centre facilities worth SAR 1.2 billion.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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