MIS is expanding Saudi Fransi’s data center capacity

Al Moammar Information Systems (MIS) will add 64 MW to the data center capacity it is building out for Saudi Fransi Capital at a cost of SAR 1.95-2.5 bn, according to a disclosure to Tadawul. MIS signed a letter of intent on behalf of Saudi Data Center Fund 1 with Saudi Fransi, which will remain in effect until an agreement is reached or its 90-day validity expires.

This is a big leap for Saudi Data Centers Fund 1: The fund had its origins in 2021, when MIS and Saudi Fransi Capital inked a SAR 1.2 bn agreement to develop, design, and manage data centers through the private investment fund. The agreement laid out plans for six data centers with a combined 24 MW capacity. The latest venture will see the fund’s data center capacity more than doubled.

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