National Infrastructure Fund Signs Memorandum of Understanding with DataVolt to Advance Digital Infrastructure Development in the Kingdom
Infra and DataVolt sign an MoU to boost Saudi digital infrastructure, exploring AI and data center projects, empowering private-sector growth, and supporting Vision 2030.
September 10, 2024
On the sidelines of the Global AI Summit currently being held at the King Abdulaziz International Conference Center in Riyadh, the National Infrastructure Fund (Infra) signed a Memorandum of Understanding (MoU) with DataVolt to explore avenues of cooperation on digital infrastructure projects in the fields of data centers and artificial intelligence in the Kingdom.
The MoU aims to strengthen the Kingdom’s position as a regional hub for digital infrastructure and AI projects in support of the Saudi Vision 2030 objectives. It also seeks to explore business development opportunities in delivering innovative national solutions, enable the private sector by expanding financing channels for digital infrastructure projects, and develop financing solutions for data center projects. The agreement underscores the essential role of the private sector in advancing national projects that enhance Saudi Arabia’s technological capabilities and drive economic growth.
Eng. Esmail Alsallom, CEO of Infra, stated: “This MoU is part of our ongoing collaboration with DataVolt and reflects our shared commitment to exploring joint opportunities. This cooperation underscores the Fund’s dedication to enabling and empowering the private sector to participate in digital transformation and AI projects, which strengthens the Kingdom’s competitiveness and supports its position as a regional hub for data and AI. It also aims to further accelerate digital development in the Kingdom as part of broader efforts to diversify the national economy and reinforce its global standing.”
Eng. Nader Al-Nasser, CEO of DataVolt, said: “This MoU affirms the company’s vision to strengthen the Kingdom’s position as a regional center for AI companies and deliver services through innovative solutions. It enhances the Kingdom’s competitive capabilities and supports its transformation into a regional data hub. The agreement also reinforces the infrastructure and capabilities needed for AI and data analytics projects, empowering the Kingdom to lead this rapidly growing sector by enabling local companies, financing their projects, and supporting their future growth.”
Infra is one of the development funds and banks operating under the National Development Fund. It serves as a partner in advancing the Kingdom’s developmental growth by building long-term foundational infrastructure to ensure the sustainability of national infrastructure and support the goals of Vision 2030. The Fund aims to enhance the quality of infrastructure projects to deliver long-lasting benefits to individuals and society.
The MoU aims to strengthen the Kingdom’s position as a regional hub for digital infrastructure and AI projects in support of the Saudi Vision 2030 objectives. It also seeks to explore business development opportunities in delivering innovative national solutions, enable the private sector by expanding financing channels for digital infrastructure projects, and develop financing solutions for data center projects. The agreement underscores the essential role of the private sector in advancing national projects that enhance Saudi Arabia’s technological capabilities and drive economic growth.
Eng. Esmail Alsallom, CEO of Infra, stated: “This MoU is part of our ongoing collaboration with DataVolt and reflects our shared commitment to exploring joint opportunities. This cooperation underscores the Fund’s dedication to enabling and empowering the private sector to participate in digital transformation and AI projects, which strengthens the Kingdom’s competitiveness and supports its position as a regional hub for data and AI. It also aims to further accelerate digital development in the Kingdom as part of broader efforts to diversify the national economy and reinforce its global standing.”
Eng. Nader Al-Nasser, CEO of DataVolt, said: “This MoU affirms the company’s vision to strengthen the Kingdom’s position as a regional center for AI companies and deliver services through innovative solutions. It enhances the Kingdom’s competitive capabilities and supports its transformation into a regional data hub. The agreement also reinforces the infrastructure and capabilities needed for AI and data analytics projects, empowering the Kingdom to lead this rapidly growing sector by enabling local companies, financing their projects, and supporting their future growth.”
Infra is one of the development funds and banks operating under the National Development Fund. It serves as a partner in advancing the Kingdom’s developmental growth by building long-term foundational infrastructure to ensure the sustainability of national infrastructure and support the goals of Vision 2030. The Fund aims to enhance the quality of infrastructure projects to deliver long-lasting benefits to individuals and society.