Saudi Arabia's Al Moammar Information Systems Company (MIS) has signed a memorandum of understanding (MoU) with Saudi Fransi Capital, acting on behalf of Saudi Data Center Fund 1, to study the development of three additional data centres across Saudi Arabia.

Under the proposed framework, the fund will evaluate the development of facilities with an estimated combined capacity of around 48 megawatts (MW) at three locations in Riyadh, Dammam and Jeddah, according to a filing by MIS to the Saudi Exchange.

If the project proceeds, MIS will serve as the developer, designer and engineering, procurement and construction (EPC) contractor for the data centres. The company will also provide ongoing asset and facilities management services for the completed facilities.

The MoU, signed on July 21, will remain valid for 90 days and may be extended by mutual written agreement between the parties.

MIS said the agreement is intended to establish a framework for cooperation while the parties study and evaluate the proposed developments. The company added that the memorandum has no immediate financial impact and that there are no related-party transactions associated with the agreement.

The planned expansion comes amid growing demand for data centre infrastructure in Saudi Arabia as the Kingdom accelerates investments in cloud computing, artificial intelligence and digital transformation initiatives under its Vision 2030 strategy. -TradeArabia News Service