Mari Petroleum launches data centers in Karachi of new tech subsidiary

By MG News | Category Equity | September 25, 2024 at 11:38 AM GMT+05:00

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September 25, 2024 (MLN): Mari Petroleum Company Limited (PSX: MARI) has initiated the formation of a proposed wholly-owned tech subsidiary, with the launch ceremony for its data centers taking place earlier today in Karachi.

These data centers will host data for public and private institutions.

Yesterday, the company's board approved an investment of Rs10 billion in a proposed wholly-owned subsidiary by way of equity.

This new company will focus on data centers, cloud computing, artificial intelligence, and other emerging technologies, including those related to the petroleum and mining sectors.

Today, MARI said that it will initiate the project with scalable data centers and expand into artificial intelligence, cloud computing and related technology ventures.

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