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Rapid Solutions partners with Business Development Mine for 675M Riyals
Alhulul Al-Mustasr’a for Communications and Information Technology announced the signing of a strategic agreement with Manjam Business Development to establish an investment fund valued at 675 million Riyals. The fund aims to develop and operate advanced data centers according to global Tier III standards, with a plan to increase capacity from 10 MW to 20 MW per center. The company will be responsible for the design, construction, and operational management of the centers, while Manjam Business Development will manage the fund. The company expects the financial impact of this agreement to last for ten years, with the possibility of extension. This initiative reflects the market’s trend toward supporting advanced digital infrastructure for artificial intelligence.
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