Singapore-based Ascendas India Trust, which develops IT and logistics parks in India, will invest Rs 1,200 crore to develop the first phase of its first data centre project in the country.
The project is located at Airoli, a data centre hub in Navi Mumbai, according to a statement posted on the company’s website.
The 6.6-acre greenfield site will be developed in phases into a fully-fitted data centre campus with a total potential built-up area of up to 5,75,000 square feet and 90 megawatts (MW) of power. The company will target customers such as global technology giants and cloud service providers, as well as large domestic enterprise clients.
The acquisition of the site from third-party vendors is expected to be completed by the third quarter of 2021, the statement said. The data centre campus will comprise two buildings. In phase one, the first building, which is scheduled to be ready by the second quarter of 2024, will have a built-up area of about 3,25,000 square feet.
When it is fully developed, the data centre campus will have an overall capacity to host approximately 8,500 racks.
a-iTrust said the demand for data centres in India is rising due to improving technology infrastructure and increasing adoption of new technologies like 5G, artificial intelligence, cloud and Internet of Things. India’s total data centre capacity is expected to grow at a compound annual growth rate of 31 percent to 1,007 MW by 2023.