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Mar 21, 2022
India, March 22, 2022 - A half billion digital users, coupled with hybrid multicloud adoption, are driving an exponential growth in the demand for digital infrastructure in India. Equinix, Inc. (Nasdaq: EQIX), the world’s digital infrastructure company™, today announced an investment of over US$9 million to acquire a parcel of land in Chennai on a long-term leasehold basis as part of its expansion and growth strategy in India.
According to a Nasscom report, over 80 third-party data centers are currently in operation in India, and investments from both local and international players are expected to reach US$4.6 billion per year by 2025.1 With a strategic location, access to subsea cable landing stations, stable power supply and thriving IT infrastructure, Chennai is steadily emerging as a data centre hub, and has made it to the top ten markets to watch in the world, according to Cushman & Wakefield’s 2021 Global Data Center Market Comparison report.2
The parcel of land is located in the State Industries Promotion Corporation of Tamil Nadu Ltd (SIPCOT) IT Park, providing a total space of more than 5.5 acres. It is strategically located in the Siruseri area, which is known as the IT Corridor of Chennai, with large and upcoming IT parks and well-established telecom networks.
Manoj Paul, Managing Director, Equinix India commented: “With the infrastructure status for data centers recently announced by the Indian government, India is well positioned to grow as one of the most important data center hubs in South Asia. There is a lot of momentum and interest from large global players to establish and expand their footprint in India. Many of our customers are keen to expand beyond Mumbai, and Chennai is often their next requested destination. Thanks to the Industries Department, Government of Tamil Nadu, SIPCOT and Guidance Tamil Nadu for their support of Equinix's growth into Chennai. At Equinix we are focused on enabling digital business in the locations our customers request.”
In 2021, Equinix entered India through the acquisition of two data centers in Mumbai, named MB1 and MB2. The two data centers in Mumbai are home to the digital infrastructure of numerous global organizations and provide a total of 1,350 cabinets.
Equinix also launched a Global Center of Excellence (GCoE) in India, which will provide customers and employees with innovative and automated digital technologies to improve the resilience of their digital infrastructures.
Globally, Equinix operates 240 International Business Exchange™ (IBX®) data centers across 66 metros, providing digital infrastructure for more than 10,000 of the world’s leading businesses. In Asia-Pacific, Equinix currently has 52 IBX data centers in key metros across Australia, China, Hong Kong, India, Japan, Korea and Singapore.
Supporting Resources
About Equinix
Equinix (Nasdaq: EQIX) is the world’s digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today’s businesses to access all the right places, partners and possibilities they need to accelerate advantage. With Equinix, they can scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX data centers and developing, deploying and delivering Equinix products and solutions, unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenues from customers in recently built out or acquired data centers; a failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; risks related to our taxation as a REIT; and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
1 https://www.livemint.com/technology/tech-news/data-centre-firms-ramp-up-capacity-in-india-11640332271873.html
2 https://www.cushmanwakefield.com/en/india/news/2021/02/chennai-makes-it-to-the-top-10-markets-to-watch-for-in-cw-global-data-centers-market-report-2021