Latest news with #AlMoammar
Argaam
09-07-2025
- Business
- Argaam
MIS CEO says new data center expansion ‘among largest in region'
Abdullah Al-Ghamdi, CEO of Al Moammar Information Systems Co. (MIS) said that the expected financial impact of the agreement signed with the Saudi Data Center Fund 1 to expand existing data centers by up to 112 megawatts and explore the potential development of new facilities will begin to materialize once the company receives the first notice from the fund, stressing that the impact will be positive for the company's performance. In an interview with Argaam, the top executive emphasized that the contract marks a significant addition to capacity and represents a major expansion of the current data centers, which will help meet the existing demand from projects the company is working on. The CEO noted that the agreement is not limited to adding 112 megawatts, as it also includes potential for further capacity expansion, adding that the value of the agreement will be announced upon receiving the development notice. He indicated that this expansion is one of the largest in the region, highlighting that a 112-megawatt expansion is significant compared to other contracts in the region. During GITEX exhibition in the UAE, data center contracts signed were for 100 megawatts. Demand for data centers within the Kingdom is substantial and evident, driven by the rise of AI technologies and models, and the increasing need for GPUs and accelerator chips. This underscores the need for high-capacity data centers, both general-purpose and AI-specialized, Al-Ghamdi said. This expansion is strongly supported by the government, through the Ministry of Communications and Information Technology and the Public Investment Fund, in addition to private sector demand. Government efforts align with Saudi Arabia's ambitions to become a global leader in the sector, as evident in the recent agreements such as the one signed by HUMAIN with NVIDIA and AMD to supply advanced chips and build a 500 MW cloud platform, as well as NEOM's partnership to establish a fully integrated factory and data center with a capacity of 1.5 gigawatts, he added.
Zawya
09-07-2025
- Business
- Zawya
Saudi Arabia's MIS signs framework deal to add 112 MW to data centre capacity
Saudi-listed Al Moammar Information Systems Company (MIS) announced on Wednesday that it has signed a framework agreement with Saudi Data Centre Fund 1, represented by Saudi Fransi Capital, to expand existing data centre infrastructure with up to 112 megawatts (MW) of additional capacity. MIS was awarded a design-build contract for the initial 32 MW capacity currently under development and is also acting as facility manager for these sites, it said in a stock exchange statement. The statement said contract duration for the expansion project is 36 months, adding that the value of the agreement will be determined upon receipt of development notices from the Fund. Past stock exchange notices from MIS have stated that it is the exclusive leasing agent and the facilities manager for the six data centres owned by Saudi Data Centre Fund 1. (Editing by Anoop Menon) (
Argaam
18-06-2025
- Business
- Argaam
MIS secures SAR 86.7M service contract with ETEC
Al Moammar Information Systems Co. (MIS) awarded a competitive bid from the Education and Training Evaluation Commission (ETEC), with a total value of SAR 86.67 million, inclusive of value-added tax. In a statement on Tadawul, MIS said the project aims to provide test administration services, including both computer-based testing at designated centers and remote testing, for examinees under the ETEC. The company clarified that there are no related parties involved. The award was granted on June 17, and the contract is expected to be signed on July 17, 2025.
Argaam
14-05-2025
- Business
- Argaam
MIS may see 15-20% growth in topline, net profit in 2025: Vice Chairman
Al Moammar Information Systems Co. (MIS) is forecast to witness growth ranging between 15-20% in its business, both in terms of revenue and net profit, during 2025, said Vice Chairman Ibrahim Al Moammar. These projections are based on current conditions and market activity, in addition to the initiatives led by the Kingdom in technology and artificial intelligence, infrastructure and data centers, he added.
