Riyadh – Sharikat Mubasher: The Saudi National Infrastructure Fund of the National Development Fund signed a cooperation agreement with the Arab National Bank (anb) to finance the development of four advanced data centers owned by Alfanar Projects in Riyadh and Dammam.
According to the announcement on the official X account of the Fund, data centers will have a total capacity of 19.2 megawatts and a total investment value of SAR 1.32 billion.
This project aims to support the Kingdom’s digital infrastructure and enhance its technological capabilities.
The National Infrastructure Fund, established with a capital of SAR 200 billion, is dedicated to enabling and accelerating strategic infrastructure projects across Saudi Arabia. Its mission aligns with the goals of Saudi Vision 2030, aiming to improve the quality of life for individuals and communities.
Meanwhile, the Arab National Bank is one of the leading financial institutions in the Kingdom and plays a crucial role in financing developmental projects that contribute to strengthening the national economy.
This initiative is part of ongoing efforts to enhance Saudi Arabia’s digital infrastructure and meet the growing demand for advanced technology services. It aligns with Saudi Vision 2030’s goal of positioning the Kingdom as a regional leader in technology and innovation.
