Adani Enterprises foraying into data centre infra biz; constitutes wholly owned subsidiary for the purpose
New Delhi: Adani Enterprises is foraying into data centre infrastructure business. It has constituted a wholly owned subsidiary ‘DC Development Chennai Private Ltd (DDCPL)’ for the purpose.
DDCPL will build, lease, maintain and operate data centre services in all its forms. The company has an authorized share capital of Rs 1 lakh.
"The company has incorporated a wholly-owned subsidiary namely, DDCPL," the company said in a regulatory filing.
DDCPL will also conduct activities related to land acquisition and due diligence, development of land, design-engineering and civil related works.
India is becoming a huge data centre market and there are many companies that are entering data centre infra business. In the middle of the 2019, Hiranandani Group entered the business of data centre infra and set up ‘Yotta’ named entity for the purpose. It said will invest Rs 15,000 crore in the next 5-6 years in data centres infra in Chennai, Mumbai and Panvel.
In July 2019, Adani Group had also said it will Rs 20,000 crore in data centre business in the coming 20 years.
The Indian data centre market doubled in the 2016-2019 period. The cloud services market in the country is likely to clock USD 4 billion mark by the end of 2020. However, data centre infrastructure business is considered to be a very high capex business requiring sophisticated set up and uninterrupted power.