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Karnataka to get ₹1,500 cr investment STT Global Data Centres

STT Global Data Centres India Private Limited (STT GDC India) will be investing 1,500 crore in Karnataka to establish data centres in the state. As per the company, the data centres will be established in multiple phases in the next eight to ten years. The project will generate employment (direct & indirect), to up to 1000 people during the construction phase and 200 when operational, the data centre services provider said in a statement.

STT Global Data Centres, with 215 MW of design capacity in terms of IT load, spanning across 21 facilities (including under construction) in nine cities, signed an MoU with the Karnataka Government at the three-day ‘Invest Karnataka 2022′, Global Investors Meet, which concluded today.

Headquartered in Mumbai, the company offers a portfolio of services that includes colocation, carrier-neutral, and technical support services such as installation, networking, and monitoring, it was noted.

Separately, the Adani Group has plans to invest almost 1 lakh crore over the next seven years in Karnataka. During the Invest Karnataka Summit, CEO Karan Gautam Adani said the company has already invested 20,000 crore in the state so far. “When I combine all of the sectors that we will be investing (in) and we will be expanding in the state of Karnataka, we would be looking at almost 1 lakh crore of investment in the next seven years,” Adani said. “As the world’s largest solar power developer, Adani Group will be investing more in the renewable energy sector in Karnataka,” he said.

Karnataka Chief Minister Basavaraj Bommai has said that his government is serious about all business proposals signed during Global Investors Meet (GIM).

“The state government has considered seriously all the agreements signed for investments in ‘Invest Karnataka 2022’, Global Investors Meet, and all necessary permission and cooperation will be given to make the business proposals become reality,” Bommai said during the event.

He said the Karnataka government aims to make these investments into reality. The investments which are currently on paper must become reality. Already, 2.80 lakh worth of investment proposals have been approved and all the proposals which were signed in this meeting will be approved in the next three months.

According to CM Bommai, Karnataka has been at the forefront in several fields including aerospace, biotechnology, and renewable energy.

The chief minister said, “Of the total 105 unicorns, 35 of them are in Karnataka, and similarly, of the total four decacorns in the country, three of them are here”.

A decacorn refers to a privately-owned company that is worth more than $10 billion.

 

 

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