Ascendas India to invest Rs 1,200 crore for data centres

BENGALURU: Singapore's Ascendas Property Fund Trustee, the trustee-manager of Ascendas India Trust, said it will invest Rs 1,200 crore to develop and operate phase-1 of its first data centre campus in India.
The data centres, to be built in Mumbai, are expected to be close to 0.5 million sqft in size, with 90 megawatts (MW) of power consumption. The centres expect to host technology giants, cloud service providers, and large domestic enterprise clients.Phase-1 is scheduled to be completed in 2024.
The next phase will involve even larger investment, the company said.
Ascendas' entry into this business comes at a time when the sector is booming in India, partly due to the government's regulations which make it mandatory for companies to store many kinds of data within the country, and partly because of the rapid move towards digitalisation among companies and other organisations.
CtrlS, Netmagic, Yotta, ESDS, and GPX Global Systems are among major players in India.
"The large market size combined with the increasing trends towards data localisation validates our market entry strategy. Developing our first data centre campus will allow us to leverage the CapitaLand Group’s data centre expertise and gives us complete control over the design and quality of the data centre," said Sanjeev Dasgupta, CEO of the trustee-manager of Ascendas India Trust. CapitaLand is the parent company of Ascendas.
"India’s rising data consumption and demand for quality solutions present a good opportunity for CapitaLand’s entry into the country’s burgeoning data centre market," He Jihong, CEO and chief corporate strategy officer of CapitaLand Group, said.