STT GDC India has signed a memorandum of understanding (MoU) with the government of Uttar Pradesh (UP) to establish data centres in the state with a total estimated proposed investment of around Rs 41 billion.
Under the MoU, the planned investment would take place over multiple phases in the next five to 10 years in infrastructure build and operations, subject to demand trajectory, policy support and techno-commercial viability. The project proposes employment (direct and indirect), with more than 2,000 people and a host of ecosystem benefits.
According to the company, its decision to expand in Noida is driven by the continuing rapid growth in the Indian data centre industry supporting the massive digital transformation that the country is experiencing. The promise of Noida emerging as a new data centre hub is well supported by progressive policy impetus at both the central and state governments.
Commenting on the development, Sumit Mukhija, chief executive officer, STT GDC India, said, “We are extremely proud and happy that the company has entered into this MoU with UP government. STT GDC India has signed MoUs with the government of UP for its investment outlook comprising two data centre parks in Noida/Greater Noida including our ongoing project in sector 143, Noida. Further, an additional regional data centre unit in Lucknow will aid the growth of digital infrastructure to support economic growth in other parts of the state. We applaud the recent amendments to UP’s data centre policy, a highly encouraging and optimistic indicator about the sector’s potential. STT GDC India’s investments in the state of UP have been upsized to Rs 41 billion given the evident demand and bolstered by the progressive policy framework which has adapted to industry requirements and the very investor-friendly environment promoted by the state government.”
