SLG Capital to Setup Data Center in NCR Region

Uttar Pradesh State Industrial Development Authority said it signed a Memorandum of Understanding (MoU) worth USD 1 billion with Singapore's SLG Capital to set up a data centre in Noida.

Highlights

  • This planned Data Center will give a major boost to the development of the area.
  • UPSIDA said it also signed an MoU worth Rs 2000 crore with Star Consortium Private Limited Signed in Singapore for the establishment of the data center.
  • The investment worth 2000 crores will generate employment for many people in the state.

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SLG Capital to Setup Data Center in NCR Region

The Uttar Pradesh Government has signed a USD 1 billion Memorandum of Understanding (MoU) with Singapore's SLG Capital for the establishment of a Data center in the state, ahead of the Global Investor Summit scheduled for February 2023. There are other agreements signed too ahead of the investor summit.

A tweet from the Official Twitter account of Uttar Pradesh State Industrial Development Authority (CEO Noida) reads, "In the presence of minister Swatantra Dev Singh, Signing of the MoU took place with SLG capital Singapore and UPSIDA for Data center establishment in Uttar Pradesh. Investment worth 1 billion US dollars will benefit the state's technical growth and employability."

Also ReadMumbai to House the Biggest Data Centres in India

The delegation is led by Uttar Pradesh Minister Swatantara Dev Singh to attract investments ahead of the investor summit. In another development, according to UPSIDA, it has signed a contract worth Rs 2000 crore in Singapore with Star Consortium Private Limited for the establishment of a Data Center/Logistic services in Uttar Pradesh.

“The investment worth Rs 2000 crore will generate employment for many people in the state,” the UPSIDA tweeted.

Noida CEO Ritu Maheshwari, a 2003-batch IAS officer of UP cadre is part of a delegation led by Uttar Pradesh Minister for Jal Shakti and Flood Control Swatantara Dev Singh.

UP Data Center Policy

UP Government is establishing Noida as a Data Centre hub, through which the government hopes it will generate over 4,000 jobs. The state's data centre policies give sops such as capital subsidy, interest subvention, stamp duty exemption, along with non-financial and power-related facilities to companies establishing Data Centers.

Reported By

Aparna, from a journalism background, closely follows the developments in the telecom Industry.

Aviation and Fintech News

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