Initial $290m funding allocated
Indian data center operator Rovision has signed an MoU for an investment in a data center near Navi Mumbai.
Navi Mumbai, otherwise known as New Bombay, is located east of Mumbai. Both cities are located in the western coastal province of Maharashtra.
Signed on August 19, the agreement between the company and the Government of Maharashtra provides for an investment of Rs 2,564 crore ($290m) to establish a campus at TTC Industrial Area, located north of Navi Mumbai.
Rovision co-founders Aditya and Satish Agarwal signed the agreement in the presence of Devendra Fadnavis, the Chief Minister of Maharashtra.
The facility's estimated capacity and size were not disclosed.
Satish Agarwal told the Economic Times that part of the investment would be made up by Foreign Direct Investment.
The area around Navi Mumbai has recently seen interest from data center operators and real estate developers.
In August, developer Prestige Group signed an MoU with the Maharashtra government for an investment package of more than Rs 12,500 crore ($1.42 billion), with Rs 5,000 crore ($567 million) earmarked for a large-scale data center campus in the eastern district of Taloja; in July, Princeton Digital Group secured $160m in green loans for its MU1 campus in the northern district of Airoli; and in March, Japanese telco NTT announced its plans for a 500MW facility without disclosing specific information about its location.
Source: DCD
