Mari Petroleum Company Limited (PSX: MARI) has announced plans to establish data centers at multiple locations across Pakistan through a newly formed subsidiary. This strategic move aims to provide data hosting services for both public and private institutions, marking a significant expansion into the technology sector.

The project will begin with scalable data centers and is set to expand into artificial intelligence, cloud computing, and related technology ventures. The launch ceremony for the data centers took place earlier today in Karachi, highlighting the company’s commitment to diversifying its business operations.

In an emergent meeting held on September 23, the Board of Directors approved an investment of Rs. 10 billion in the proposed wholly-owned subsidiary. This investment will focus on developing data centers, cloud computing, artificial intelligence, and other new technologies, including applications in the petroleum and mining sectors.

Mari Petroleum, primarily engaged in the exploration, production, and sale of hydrocarbons, is making a significant leap into the tech industry with this initiative. At the time of the announcement, the company’s stock was trading at Rs. 424.9, reflecting a 0.68 percent increase with over 232,000 shares exchanged on Wednesday.