IT services provider MEEZA has secured an 800 million Qatari riyals ($219 million) commodity Murabaha credit facility from Qatari-listed Dukhan Bank.
The financing will power its expansion plans to add 44 megawatts (MW) of data centre capacity, the company said in a statement to the Qatar stock exchange.
The first phase will deliver 24 MW, with 6 MW purpose-built to support advanced artificial intelligence (AI) services.
The funding will enable MEEZA to strengthen Qatar’s digital infrastructure, increase capacity for enterprise clients, and provide advanced cloud and cybersecurity solutions to meet the growing demand in both domestic and regional markets, the statement added.
Qatar National Vision 2030 supports economic development through investment in advanced technology infrastructure and the delivery of secure ICT services.
(Writing by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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