Oracle looks to investing US$1.5bn to build its cloud footprint in Saudi Arabia
By MYBRANDBOOK
As Oracle plans to build up its cloud footprint in Saudi Arabia and open its third public cloud region in Riyadh, Oracle Corp is looking to invest US$1.5 billion in the kingdom in the coming years.
Increased demand for cloud computing has pushed technology companies such as Oracle, Microsoft Corp, Amazon.com Inc and Alphabet Inc’s Google to come up with data centers across the world to speed up data transfer. Saudi officials have requested international companies to invest in the kingdom and move their regional headquarters to Riyadh to benefit from government contracts.
“We are finalizing the plans for opening the Riyadh region. We are still working with our suppliers before we can announce the actual date,” Oracle senior vice president Nick Redshaw said.
“The investment would be made over several years,” Redshaw said, while adding that Oracle would also expand the capacity of its cloud region in Jeddah, which the company opened in 2020.
Although Oracle lags behind its bigger rivals in the cloud computing race, it was among the first large tech companies to open a data center in Saudi Arabia. The company made the announcement as global tech companies gathered for a major tech conference in the Saudi capital.
The kingdom has devoted hundreds of billions of US dollars toward an economic transformation, known as Vision 2030, led by Saudi Crown Prince Mohammed bin Salman.
While Oracle has been working with the government, Saudi Arabia has been trying to encourage foreign firms to set up headquarters in the country or risk losing out on government contracts. Interestingly these deals would be available only until the end of this year.
“We are working closely with the Saudi government to finalize plans for that regional headquarters requirement, and we will announce them as we finalize that with them,” Redshaw said.
Oracle has also won contracts from the crown prince’s US$500 billion flagship NEOM project, a futuristic megacity and economic zone that is being built on the Red Sea coast. NEOM is one of Oracle’s largest consumers of cloud capability in Saudi Arabia, Redshaw said.
BREAKING NEWS
TECHNO TRENDS
InterGlobe’s Rahul Bhatia and C.P. Gurnani together announce
In a move that is set to transform the AI landscape, Rahul Bhatia, Group M...
Download masked Aadhaar to improve privacy
Download a masked Aadhaar from UIDAI to improve privacy. Select masking w...
Sterlite Technologies' Rs 145 crore claim against BSNL rejecte
An arbitrator has rejected broadband technology company Sterlite Technolog...
ID-REDACT® ensures full compliance with the DPDP Act for Indi
Data Safeguard India Pvt Ltd, a wholly-owned subsidiary of Data Safeguard ...
E-Magazine
TECHNOTAINMENT
Salman Khan trolled for singing with B Praak at Anant Ambani's
To celebrate Mukesh Ambani's youngest son Anant Ambani’s 29th birthday
Disney+ Hotstar wins the Best OTT Platform of the year
Film Critics Guild and Group M Motion Entertainment, in collaboration with
MOVERS & SHAKERS
SISL elevates Ankita Wadhawan as CEO—End User Computing
The IT service provider, SISL in a LinkedIn post announced the elevation
InfoVision appoints Radhika Venkatraman to its Advisory Board
Global digital services company, InfoVision has announced the appointment
OPEN YOUR EYES
INTERVIEWS
Acuutech continues to focus on innovation, customer focus and
Acuutech with its strong partnership with Lenovo and Microsoft forayed into
MEASURE AND IMPROVE YOUR SECURITY POSTURE WITH KEYSIGHT
Is your security team prepared for the next cyber-attack? Are your security
HOT PICK
Canon India Introduces 4K Remote PTZ Camera Controller & 4K In
Canon India, a leading company in digital imaging solutions, further solidi
Dell Technologies launches the new consumer and gaming portfol
Dell Technologies has unveiled its newest line of AI-enabled consumer PCs
MAKE IN INDIA BRANDS
SECLORE TECHNOLOGY PVT. LTD.
STERLITE TECHNOLOGIES LTD.
QUICK HEAL TECHNOLOGIES PVT. Ltd.
SAFE SECURITY SERVICES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Deepinder Goyal
Deepinder Goyal is the Founder and CEO of Zomato. Deepinder, or Deepi,...
Technology Icons Of India 2023: Madhabi Puri Buch
Madhabi Puri Buch is the chairperson of the securities regulatory body...
Technology Icons Of India 2023: Vijay Shekhar Sharma
Vijay Shekhar Sharma is an Indian technology entrepreneur and billiona...
PARTNER SPEAKERS
PSU
DRDO is India's largest and most diverse research organisation
DRDO is the R&D wing of Ministry of Defence, Govt of India, with a vis...
Leading company into fertilizers in the country
NFL is a dynamic organization committed to serve the farming community...
BEL leveraging next generation technologies to keep the country ahead in Defence space
Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry ...
VIDEOS
Top 25 Brands
Value-Added Distribution
R P TECH INDIA
R P Tech is recognized for its diverse products portfolio, value-add...
IVALUE INFOSOLUTIONS PVT. LTD.
: iValue Info Solutions is a value added distributor, provides solutio...
INFLOW TECHNOLOGIES PVT. LTD.
Inflow Technologies is a niche player in the IT Infrastructure Distrib...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
