Companies

Hiranandani group to invest ₹10,000 crore in Bengal

Our Bureau Kolkata | Updated on February 15, 2021 Published on February 15, 2021

Group companies GreenBase and Yotta Land will acquire the land from Hindustan Motors

The Mumbai-based diversified conglomerate, The Hiranandani Group, will set up a logistics and hyperscale data centre park here in West Bengal at an expected investment of ₹10,000 crore.

The group has signed an MoU to acquire a 100-acre land at Uttarpara.

Land will be acquired by Hiranandani Group companies GreenBase and Yotta, respectively, from Hindustan Motors. According to a press statement, a combined investment by the group and their customers is estimated to cross ₹10,000 crore.

Direct investment by the group will be ₹8,500 crore; the remaining ₹1,500 crore by associates.

GreenBase, a joint venture between the Hiranandani Group and private equity firm Blackstone, will set up a modern and self-sustainable ecosystem consisting of 3-million sq ft of industrial and warehousing space along with essential utilities. It will also set up the support infrastructure built to international standards.

Yotta, Hiranandani Group’s hyper scale data centre division, will see a development of six hyper connected data centre buildings bringing in 250MW of data centre capacity over the next several years to the State.

Connectivity, a plus

According to Darshan Hiranandani, Group CEO, Hiranandani Group, West Bengal is the gateway to the East and is an ideal hub for logistics and industrial development with excellent road, rail and riverine connectivity.

“Simultaneously, the data centre business will benefit from the digitisation revolution, the upcoming Silicon Valley at New Town at Rajarhat, excellent fibre connectivity on land and the new submarine cable coming up at Tajpur.

“By setting up a data centre park , we will not only serve the customers of the State but the entire eastern region including neighbouring countries,” he added.

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Published on February 15, 2021
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