STT GDC India to invest Rs 4,100cr in UP to build next-gen data centres
New Delhi, Feb 10 (IANS) ST Telemedia Global Data Centres (STT GDC) India on Friday said it will invest Rs 4,100 crore in Noida over the next 5-10 years to establish state-of-the-art data centres.
The Singapore-based company signed a memorandum of understanding (MoU) with the Uttar Pradesh government during the Global Investors' Summit 2023 in Lucknow to establish data centres in the state.
Under the MoU, the planned investment would take place over multiple phases in infrastructure build and operations, subject to demand trajectory, policy support and techno-commercial viability.
The project proposes employment (direct and indirect) of more than 2,000 people and a host of other ecosystem benefits, said the company.
"STT GDC India has signed MoUs with the US government for its investment outlook comprising 2 data centre parks in Noida/Greater Noida including our ongoing project in sector 143, Noida. Further, an additional regional data centre unit in Lucknow will aid the growth of digital infrastructure to support economic growth in other parts of the state," said Sumit Mukhija, CEO, STT GDC India.
"We applaud the recent amendments to Uttar Pradesh's data centre policy, a highly encouraging and optimistic indicator about the sector's potential," he added.
The promise of Noida emerging as a new data centre hub is supported by progressive policy impetus at both the Central and state governments.
STT GDC is the largest data centre colocation services provider in the country with more than 200 MW of design capacity in terms of IT load, spanning across 21 facilities (including under construction) in nine cities, totalling more than 3 million square feet of gross floor area.
"Since 2015, our design capacity has grown 5X, revenue by more than 3X and we have done this profitably with an equal growth in EBITDA," said the company.
The company is serving over 1,000 customers including many Fortune 500 companies with over 30 per cent market share revenue.
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