Realty firm RMZ has formed an equal joint venture with Colt Data Centre Services to invest $1.7 billion in the Indian data centre market.
In a statement on Tuesday, RMZ said the company through its RMZ Digital Infrastructure Partners has entered into a joint venture with Colt Data Centre Services, a leading global hyperscale data centre operator, to develop digital infrastructure in India.
The venture represents an equal partnership between RDIP and COLT DCS, it added.
"Colt Data Centre Services and RMZ Digital Infrastructure Partners announce a joint venture to invest $1.7 billion in the Indian Data Centre market. The investment will initially focus on expediting development at existing sites in Navi Mumbai and Ambattur, Chennai, with an additional third site to be added in future," RMZ said.
The data centres will have a combined capacity of approximately 250MW on completion of all phases, it added.
Colt DCS has 25 years of experience developing and operating data centres in Tier 1 markets in Europe, Japan and India.
Niclas Sanfridsson, CEO of Colt DCS said, "In terms of our expansion, India remains a strategic country of focus and key in terms of delivering against our aggressive growth strategy. Colt DCS has a proven track record, working with the world's largest hyperscale cloud providers and multi-national companies."
The partnership with RMZ will provide the opportunity to further accelerate and execute our ambitious plans, Sanfridsson said.
Deepak Chhabria, CEO of RMZ Infrastructure stated, "We are witnessing an extraordinary shift in the data centre landscape, driven by the accelerating demands of cloud adoption and the AI revolution. At RMZ, we recognize that digital infrastructure is not just an investment theme but a cornerstone of India's economic future."
Colt DCS' proven track record in delivering high-quality, scalable solutions aligns perfectly with the company's vision for India, he added.
Bengaluru-based RMZ's real estate investments encompass a wide-range of sectors, including commercial real estate, industrial and logistics, hotels, luxury residential and retail.
RMZ's infrastructure portfolio includes critical assets such as healthcare and digital infrastructure.
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