Al Moammar Information Systems Co. (MIS) has announced the signing of a letter of intent with BSF Capital, acting on behalf of Saudi Data Centre Fund 1, to significantly expand the capacity of the fund’s data centres. This partnership is set to increase the data centres’ capacity by an additional 64 megawatts, a major step towards enhancing Saudi Arabia’s data infrastructure.
The memorandum, signed on September 22, 2024, outlines plans to boost the capacity of these critical data hubs with an investment valued between SAR 1.95 billion and SAR 2.5 billion, inclusive of VAT. This substantial financial commitment underscores the growing importance of data centre infrastructure as Saudi Arabia advances its digital transformation strategy.
The letter of intent will remain valid for 90 days, during which time both parties will work toward finalizing the terms of the agreement. If a definitive agreement is not reached within this period, the memorandum will expire automatically.
The proposed expansion will strengthen Saudi Arabia’s position in the data-driven economy, providing greater storage and processing capabilities to meet the increasing demand for digital services across the region.
