Mari Petroleum to Launch Data Centers At Multiple Locations Via New Subsidiary

Mari Petroleum Company Limited (PSX: MARI) through a new subsidiary plans to establish data centers at multiple locations across Pakistan to host data for public and private institutions. “MPCL will initiate the project with scalable data centers and expand into artificial intelligence, cloud computing and related technology ventures. The project launch ceremony for the data centers took place early today in Karachi,” it said in a stock filing on Wednesday. The Board in its emergent meeting held on September 23 approved an investment of Rs. 10 billion in the proposed wholly-owned subsidiary company with focus on Data Centre, Cloud Computing, Artificial Intelligence and other new technologies including Petroleum and Mining Sectors by way of equity. The Company is principally engaged in exploration, production and sale of hydrocarbons. At the time of filing, its scrip at the bourse was Rs. 424.9, up 0.68 percent or Rs. 2.86 with over 232,000 shares on Wednesday.