MIS HUMAIN contract: new work orders top SAR3.4bn

Al Moammar Information Systems (MIS) has received two more work orders under the MIS HUMAIN contract for AI data centres, together worth more than 270% of its 2025 revenue, or about SAR 3.44 billion.

The Tadawul-listed IT services company said it received work orders No. 3 and No. 4 from HUMAIN on 10 October. It disclosed them in two separate statements to the Saudi Exchange, Argaam reported on 11 October.

Each order exceeds 135% of the company’s 2025 revenue, the company said. Argaam put that at about SAR 1.72 billion (USD 459 million) apiece, based on 2025 revenue of almost SAR 1.27 billion, giving a combined value of roughly USD 917 million.

Both work orders will be carried out over 16 months. MIS expects the financial impact to start showing in the fourth quarter of 2026.

How the MIS HUMAIN contract has grown

The orders are the latest step in a programme that has grown sharply this year. MIS announced a contract with HUMAIN on Tadawul on 5 March 2026, covering the design and construction of a data centre dedicated to artificial intelligence.

In late August, the company said the project’s planned capacity would rise from 50 megawatts (MW) to 250 MW. The additional 200 MW would be built in phases, Asharq Al-Awsat reported at the time.

The two sides signed the expanded agreement in September. Its total value exceeds 689% of MIS’s 2025 revenue, including VAT, which Argaam estimated at about SAR 8.76 billion (USD 2.34 billion).

Under the MIS HUMAIN contract, engineering, procurement and construction work is released through successive work orders issued by HUMAIN, according to Mubasher. MIS said it would disclose the value, execution period and financial impact of each one as it arrived.

Four have been received since the start of October. Work order No. 1, received on 1 October, exceeded 148% of 2025 revenue, or about SAR 1.88 billion (USD 501 million), and No. 2 followed on 4 October at more than 135%, Argaam reported.

Taken together, the four orders exceed 553% of the company’s 2025 revenue. That is about SAR 7.04 billion (USD 1.88 billion) on Argaam’s figures, or most of the agreement’s stated value.

What it means for AI data centres in Saudi Arabia

HUMAIN is the artificial intelligence company owned by the Public Investment Fund (PIF). It was set up in May 2025 to build AI infrastructure and services in the kingdom.

The pace of the awards indicates the PIF-owned group is moving from agreements to construction, with a locally listed contractor carrying out the work.

For MIS, the scale is significant relative to its size. The company, which trades on Tadawul under the symbol 7200, has taken on HUMAIN orders in October alone that are several times its annual revenue.

That puts the focus on delivery. With 16-month execution periods on the three most recent orders, the company is likely to be managing several phases at the same time.

MIS has said the September agreement replaced the March contract without changing that contract’s value, progress or financial impact. The earlier contract began contributing to results in the second quarter of 2026, Mubasher reported.

The announcement came as the Tadawul All Share Index closed 0.15% lower at 10,361 on Sunday, according to Arab News.

The project sits within Saudi Arabia’s wider push, under Vision 2030, to build domestic AI and computing capacity. Our technology coverage tracks other projects in the sector.

What happens next

Further work orders may follow, as the agreement provides for work to be released in stages. MIS has committed to disclosing each one on the exchange.

For investors tracking the MIS HUMAIN contract, the first evidence of the financial effect should come with fourth-quarter results, when the company expects the orders to begin contributing. Third-quarter results should give an update on the original contract.

The company’s filings are published as each statement to the Saudi Exchange is released. More regional company updates are on our MENA business news page.