The Adani Group plans to invest an additional $10 billion (Rs 1000 crore) to build data centers in India, riding high on the growing demand for artificial intelligence and business process-led services, reported Bloomberg.
The Group has identified Andhra Pradesh, Maharashtra, Gujarat and Tamil Nadu as possible locations for two data centers of about 1 gigawatt capacity each, the news agency reported quoting un-named sources. Land acquisition is in progress for the project.
The aim is to scale up the data center portfolio to 10 GW over time, the report said.
With plans to invest $5.9 billion (Rs 590 crore) for data center infrastructure in Maharashtra, the Group is doubling down on this sector, with an eye on business from foreign governments.
Adani Enterprises also has a 50:50 joint venture with Sweden's EQT-owned EdgeConnex Inc, called AdaniConnex Pvt. It has one operational data centre in Chennai and is building facilities in Mumbai, Pune and Hyderabad.
Reports say the company is currently in discussions with several international banks to secure an offshore loan in the range of $1.2-1.4 billion. The transaction is expected to be finalized in the coming weeks.
The expansion plans are in view of expectations that demand for data centers will soon outstrip supply in India.
Last year, global capability centers powered a record 77.2 million square feet of office space leasing in India's key cities.
The biggest such complexes by capacity are located in the US and owned by tech giants. By comparison, the largest data centers operating in India currently have less than 1 GW of capacity, Bloomberg reported.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
