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Yotta Data Center $1 billion deal MoU signs with Noida Authority

Posted by kapoor Infra on December 17, 2022
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Yotta Data Center $1 billion deal MoU signs with Noida Authority

Yotta Data Center $1 billion deal MoU signs with Noida Authority

Noida Authority signs $1 billion MoU with SLG Capital of Singapore ahead of UP Investors Summit for Yotta Data Center. The agreement covers the setting up of data centers in Noida and the Greater Noida region.

Ahead of the UP Investor Summit, the Noida Authority has signed a $1 billion memorandum of understanding (MoU) with Singapore’s SLG Capital to set up a Yotta Data Center in the Delhi suburb, CEO Ritu Maheshwari has said.

“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 Yotta data center setup in the Noida and Greater Noida region in UP. This will give a big boost to the development of the area,” tweeted the CEO of Noida Authority.

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 details.

The Uttar Pradesh government is pushing for setting up Yotta data centers and has approved a Rs 15,950-crore plan for four such facilities in the state, which it says will generate 4,000 direct or indirect jobs.

The data center policy of the state 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 center in Greater Noida. It has been developed by Yota Infrastructure, an arm of the Hiranandani Group.

The launch of the Greater Noida facility coincided with the signing of an MoU with the state government for an investment of Rs 39,000 crore over five to seven years.

According to the Greater Noida Industrial Development Authority (GNIDA), NTT Global Data Center has 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 center with 70 MW captive power. ,

The Adani group is said to be planning an investment of Rs 5,000-6,000 crore to set up two data centers in Sector 80 and Sector 62 of Noida. Other proposed investments include Rs 2,700 crore from Sify Technologies and Rs 197 crore from Web Works-Iron. Mountain Data Center Joint Venture.

NCR-based real estate firm County Group has set aside Rs 300 crore to enter the data center business in Noida or neighboring Greater Noida.

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