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The deal follows rumours last month, with the Indian Economic Times reporting that the two companies were in late-stage talks
Colt Data Centre Services (DCS) has announced a 50:50 joint venture with RMZ, an Indian real estate developer, to invest $1.7 billion in the data centre market.
The investment will begin by focusing on Colt’s existing sites in Navi, Mumbai, and Ambattur, Chennai, with a third site will be added in the near future.
Upon completion, the data centres will have a combined capacity of 250MW.
Currently, Colt owns and operates sixteen data centres across Europe and Asia, including in Osaka, Mumbai, and London.
“In terms of our expansion India remains a strategic country of focus and key in terms of delivering against our aggressive growth strategy,” said Niclas Sanfridsson, CEO of Colt DCS in a press release.
“The partnership with RMZ will provide the opportunity to further accelerate and execute our ambitious plans,” he continued.
“We are witnessing an extraordinary shift in the data centre landscape, driven by the accelerating demands of cloud adoption and the AI revolution,” said Deepak Chhabria, CEO of RMZ Infrastructure.
India’s demand for data centres is growing rapidly due to increased internet usage, as well as the rise of 5G, AI, and cloud computing.
Indeed, the Indian government is hoping to make the country a regional data hub, offering a variety of subsidies for the deployment of new data centres in key states.
According to data from a recent Omdia report, India already has over 130 data centres in the country, with more than 35 additional deployments currently planned for 2024–2026.
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