Mumbai-based The Hiranandani Group on Monday said it will invest around Rs 8,500 crore to develop industrial and data centre parks in West Bengal.
The group has "entered into an MoU (memorandum of understanding) in the state of West Bengal to set up logistics and hyperscale data center parks in the region", a company statement said.
It has signed an MoU to acquire a 100-acre land at Uttarpara, Kolkata to set up an integrated logistics and hyperscale data center park by group companies GreenBase and Yotta respectively.
"The combined investment by the group and their customers is estimated to cross Rs 10,000 crore," the statement said.
When contacted, the company spokesperson said the investment by the group will be around Rs 8,500 crore.
GreenBase will develop 3 million square feet of industrial and warehousing space, while Yotta, Hiranandani's hyperscale data centre division, will build six hyper connected data centre buildings bringing in 250MW of cutting edge data centre capacity over the next several years.
Darshan Hiranandani, Group Chief Executive Officer - Hiranandani Group said, Kicking off this project would not have been possible without the tremendous support of the Government of West Bengal"
"West Bengal is the gateway to the east. It is an ideal hub for logistics and industrial development with excellent road, rail and riverine connectivity," he added.
Simultaneously, Darshan said the data centre business will benefit from the digitisation revolution, the upcoming Silicon Valley at New Town at Rajarhat and excellent fibre connectivity on land and the new submarine cable coming up at Tajpur.
"By setting up a data center park in Kolkata, we will not only serve the customers of the state but the entire eastern region including neighbouring countries," he said.
In 2020, Yotta inaugurated its Asia's largest and World's second-largest Uptime Institute Tier IV certified data center in Navi Mumbai. It has recently announced development of data centre parks in Greater Noida and Chennai.
Greenbase is a joint venture (JV) between Hiranandani Group and global private equity firm Blackstone. It is developing industrial and logistics parks across Mumbai MMR region, Pune, Nashik, Chennai and Bengaluru with a plan to deliver 15 million sq ft of space Pan India in the next five years, having an investment outlay of USD 500 million.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)