MIS inks SAR 183.9 mln contract with SIRC

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) signed today, July 19, a maritime emergency monitoring and response center project contract with Saudi Investment Recycling Co. (SIRC) for SAR 183.85 million (VAT inclusive), according to a Tadawul statement.

The company expects the related financial impact to be reflected on its financial statements from Q3 2023 to Q2 2024, with no related parties to the one-year contract.

Accordingly, MIS will build an integrated system of advanced technical solutions and enable SIRC to immediately monitor and early warn of oil spills in the Arabian Gulf and Red Sea regions.

The solutions provided include the use of the best international technologies in the field of artificial intelligence, augmented reality, data analysis with digital twinning techniques (Digital Twins) and satellite solutions by securing a network of drones and a comprehensive monitoring system.

This will be through several fixed and mobile control centers that work around the clock to ensure a quick response to the team specialized in dealing with these events, MIS added.