Roads and data center updates from Saudi Arabia

DATA CENTERS-

MIS + BSF Capital partner up on data center expansion: Saudi Arabia’s IT solutions provider Al Moammar Information Systems has inked a letter of intent with financial services provider BSF Capital — on behalf of the Saudi Data Centre Fund 1 — to increase the capacity of the fund’s data centers up to 64 MW, according to a disclosure on the Saudi Exchange (Tadawul). The value of the agreement is estimated to range between SAR 1.95 bn (c. USD 520 mn) to SAR 2.5 bn (c. USD 665 mn).

ROADS-

Riyadh Municipality inked five contracts with unidentified companies worth c. SAR 6 bn to executive roadworks in a bid to improve road quality within the capital, it said in a statement. The project involves rehabilitation and asphalt works over a five-year period. The statement did not provide any financial details on the contracts.

The nitty gritty: The city will be divided into five zones — north, south, east, west, and central — based on a comprehensive survey of road quality and safety standards, to determine the order in which road improvements will be carried out. The roadworks will be carried out over an area of some 83 mn sqm.

REMEMBER: The Royal Commission for Riyadh City kicked off the first phase of Riyadh’s main and ring road development project last month, awarding four contracts worth more than SAR 13 bn. The project is part of the Ring Roads Axes Development Program, which kicked off in 2019 and covers upgrades to some 500 km of roads in Riyadh, including the construction of new roads, improving existing roads, and measures to boost connectivity. The initiative comes in a bid to accommodate population growth, bolster mega development projects in the city, and future-proof Riyadh’s road network.

OTHER STORIES WORTH KNOWING THIS MORNING-

• Rorix Holdings partners with Adani Ports on trade: Abu Dhabi-based trade and finance firm Rorix Holdings has inked an MoU with India’s multi-port operator Adani Ports on integrating advanced technologies into both their logistics and trading platforms. (Wam)