19 Jan 2023 , 10:03 AM
Bharti Airtel Group announced that it will invest Rs2,000 crore in the establishment of a large hyperscale data centre in Hyderabad.
According to an official release, the announcement was made at the Telangana Lounge in Davos, Switzerland, in the presence of Telangana Minister for IT and Industries K T Rama Rao, Principal Secretary for Industries Jayesh Ranjan, and Sunil Bharti Mittal, the Group's founder-chairman.
According to the Bharti Airtel Group, the amount will be invested as capital for the infrastructure by its data centre arm, Nxtra Data Centers, which will then attract investments from their customers.
For the first phase, hyperscale data centre will have a capacity of 60 megawatts (MW) of IT load. It will use cutting-edge cooling and security technologies.
Rama Rao stated, 'I am delighted that Airtel-Nxtra Data Centers has decided to invest in Telangana. Hyderabad is now India's hyperscale data centre hub, and Airtel's investment accelerates our efforts to keep up.'
It is expected that the project will be completed within the next five to seven years.
At around 9.54 AM, Bharti Airtel was trading 0.79% lower at Rs770.45, against the previous close of Rs776.55 on NSE. So far, the counter touched an intraday high and low of Rs776.50 and Rs767.20 respectively.
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