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Dubai-based Solstice Data has officially entered into a Memorandum of Understanding (MoU) to launch a massive investment project at an outlay of Rs 52,600 crore at the KINFRA Industrial Park in Mattannur in Kannur district. As part of the landmark agreement, 100 acres of land within the park will be allocated to the company to facilitate the development of its facilities, according to an official statement on Sunday. The MoU was formally exchanged in Thiruvananthapuram between Raj Babu Thulaseedharan, Country Head (India) of Solstice Data, and Santhosh Koshy Thomas, Managing Director of KINFRA, it said. The ceremony took place in the presence of Industries Minister P Rajeev and Director of Industries P Vishnuraj on Saturday. Solstice Data is a global leader in designing, developing, and operating advanced AI-driven High-Performance Computing (HPC) data centers. Beyond its headquarters in Dubai, the company manages over sixty data center projects across various international locati