Ooredoo Group has announced a QAR 2 billion financing deal to expand capacity at its data centers, modernise them and accelerate its AI business. The 10-year hybrid facility, signed with QNB, Doha Bank, and Masraf Al Rayan, is the largest tech-sector transaction in Qatar's history, Ooredoo Group said in an exchange filing on Wednesday.
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Funds for Data Center Expansion
The funding comprises both commercial and Islamic tranches and will be strategically allocated to carve out existing data center assets from Ooredoo's telecom operations. A significant portion will be directed toward expanding capacity and upgrading infrastructure to support the growing demand for AI, cloud services, and hyperconnectivity in the MENA region, the company said.
Ooredoo Group commented: "The MENA region is one of the fastest-growing markets for data centers worldwide, and there is significant untapped potential in AI, cloud services, and accelerated computing. This financing deal marks a major milestone in our strategic vision for expanding our data center and AI business."
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Sustainable Data Centers
Ooredoo's Data Centre company provides colocation services to hyperscalers and enterprises. As part of its strategic growth, the company plans to expand its capacity to over 120 megawatts through a USD 1 billion investment in the medium to long term.
Ooredoo said it has 26 active data centers across Qatar, Kuwait, Oman, Iraq, and Tunisia. The company plans to build a new generation of sustainable, energy-efficient data centers that will process IT workloads for governments, hyperscalers, enterprises, and startups to support AI adoption across the region.
Collaboration with Nvidia
Earlier this year, Ooredoo Group announced a collaboration with Nvidia, which will allow the company to leverage Nvidia's computing platform for AI-driven solutions across the MENA region and provide sovereign cloud solutions to governments and enterprises.
Ooredoo is an international communications company operating across the Middle East, North Africa, and Southeast Asia.
