In the run-up to the UP investor summit, the Noida authority has signed a $1-billion memorandum of understanding (MoU) with Singapore’s SLG Capital for setting up a data centre in the Delhi suburb, CEO Ritu Maheshwari has said.
Maheshwari is part of the delegation led by Uttar Pradesh cabinet minister Swatantara Dev Singh that is visiting Singapore ahead of the investor summit in February 2023.
“In the presence of minister Swatantra Dev Singh, another major MoU has been signed with SLG Capital Singapore for US$ 1 billion for investment and data centre establishment in Noida- Greater Noida region in UP. This will give a major boost to the development of the area,” the Noida Authority CEO tweeted.
At the Singapore roadshow on December 16, the UP government also signed an MoU with the Singapore Indian Chamber of Commerce and Industry, the CEO said in a statement to the media, without sharing the details.
Data centre push
The Uttar Pradesh government has been pushing for the setting up of data centres and has approved a plan for four such facilities in the state for Rs 15,950 crore, which, it said, would create 4,000 direct or indirect jobs.
The state’s data centre policy offers various incentives like capital subsidy, interest subvention, and stamp duty exemption along with non-financial and energy-related facilities.
In October, Chief Minister Yogi Adityanath launched the Yotta D1 data centre in Greater Noida. It has been developed by Yotta Infrastructure, an arm of the Hiranandani Group.
The launch of the Greater Noida facility was accompanied by Yotta signing an MoU with the state government to invest Rs 39,000 crore over five to seven years.
According to Greater Noida Industrial Development Authority (GNIDA), NTT Global Data Centers has also sub-leased 4 acres of land in Tech Zone 4. NTT will invest around Rs 1,000 crore to set up a 70 MW data centre with captive power of 70 MW.
The Adani Group is said to be planning an investment of Rs 5,000-6,000 crore to set up two data centres in Noida’s Sector 80 and Sector 62. Other proposed investments include Rs 2,700 crore from Sify Technologies and Rs 197 crore from the Web Werks-Iron Mountain Data Centers joint venture.
NCR-based real estate firm County Group has also set aside Rs 300 crore to foray into the data centre business in Noida or neighbouring Greater Noida.
GNIDA has leased 20 acres of land in Knowledge Park V to Mumbai-based NIDP Developers for setting up a data centre park.