AdaniConnex Private Limited has incorporated a new subsidiary, Mumbai Data Centre Limited (MDCL), to set up a data centre in Mumbai. AdaniConnex Private Limited is a 50:50 joint venture (JV) of Adani Enterprises and EdgeConnex Europe BV. While the exact date for commencement of operational business is yet to be confirmed, the Adani Group has affirmed that the operations will start soon.
According to a stock exchange filing AdaniConnex Private Limited, on February 4, 2022, incorporated a wholly-owned subsidiary, MDCL. The new unit will undertake business to develop, operate, maintain, deal with data centres, information technology (IT)/ information technology-enabled services (ITES)/ cloud, providing services related thereto and to undertake activities associated with its infrastructure development including land acquisition and development for the said purpose.
The diversification comes against the backdrop of India’s digital economy expected to touch $1 trillion by 2025. Also, the Reserve Bank of India’s (RBI) norm mandates data localisation, necessitating the need for setting up large data centres to store and protect information.