Tech

Equinix invests $86 million to build third data center in Mumbai


NEW DELHI: Equinix, a US-based data center company, announced an initial investment of $86 million to build a new data center in Mumbai. The company purchased a 4-acre parcel of land in the Chandivali area of ​​the city.

The new data center, dubbed MB3, will be Equinix’s third such facility in Mumbai. MB3 IBX will be adjacent to Equinix MB2 IBX and 1.5 km from MB1 IBX data center.

The first phase of MB3 is scheduled to open in Q2 2024, providing an initial capacity of more than 1,375 cabinets and over 4,150 cabinets when fully built.

JLL acts as the exclusive real estate advisor to Equinix on land acquisition.

Mumbai is the country’s top data center market and is expected to grow more than 2.5 times to nearly 530 megawatts (MW) by 2023 according to a recent JLL report. As the business capital of India, Mumbai has dozens of undersea cable landings and the most cloud regions of the major global cloud service providers.

In March of this year, Equinix expanded into Chennai with the acquisition of more than 5.5 acres.

“Equinix’s continued investment in Mumbai will further enhance the highly networked and connected diverse data center platform in India, meeting significant demand from global and local customers. This expansion will assist Indian organizations in enhancing their digital transformation strategies and enable global companies across sectors to expand their operations in India.

“The growing digital economy is continuing to drive demand for data centers and connected services in India. In Mumbai alone, the high demand for our digital infrastructure services among our Indian and international clients is making us very bullish on the market,” said Manoj Paul, Managing Director , said Equinix India.

“We are focusing our investments further on building infrastructure in India to enable our existing and new customers in India to bring their services closer to the consumer. their users,” he added, adding that the investment will also support the government’s vision of making India a central data center hub for Southeast Asia.

Globally, Equinix operates more than 240 data centers across 70 major cities, providing the digital infrastructure for more than 10,000 of the world’s top businesses. In Asia Pacific, Equinix has 52 data centers in major cities across Australia, China, Hong Kong, India, Japan, Korea and Singapore.

According to a report by ratings agency CRISIL, data center capacity in India is expected to double to around 1,700-1,800 megawatts (MW) in FY 2025 from 870 MW in FY 2022, Supported by the combination of data explosion, digital adoption and local data storage tasks. Nitesh Jain, Director of CRISIL Ratings, said that data centers are emerging as an attractive infrastructure asset class in India. He added that the industry is expected to add nearly 850-900 MW of capacity in 2023-25.

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