NxtGen to invest Rs 1,300 crore in data centres in India

22 Feb 2022 CW Team

NxtGen Datacenter and Cloud Technologies is planning to invest Rs 1,300 crore for establishing approximately 10 additional data centers along with 236 edge centers in India.

The company’s investors include Intel, Iron Mountain, and IFC. It is now raising $100 million by the first quarter (Q1) FY 22-23. The Cloud storage and computing segment player is operating four data centers in Metro cities like Mumbai, Delhi, Bengaluru, and Ahmedabad. It further plans to have data centers in Hyderabad, Visakhapatnam, and Chennai.

NxtGen Datacenter and Cloud Technologies CEO and managing director, A S Rajgopal said for the additional 10 more data centers the company will invest around Rs 500 crore. For complementing these additional 236 edge data centers are in the planning process that may require an investment of about Rs 800 crore.

For the funding of the expansion plans, NxtGen is in discussions with investors to raise about $100 million. Rajgopal added that the company wants to fund around Rs 600 crore via equity. If they are committed to the Environment, Social, and Governance (ESG) thought process, a lot of them will be willing to invest in data centers.

Regarding the government’s initiative for establishing infrastructure status for data centers and along with a specialised policy, he added that it would be helpful for industry players in receiving long-term loans in comparison with the current seven-year term loans.

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