Major Investment Announcement: Web Werks to Establish Data Centers in Telangana

Investments Events

Posted by pallavi on 2024-10-01 06:17:51 |

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Hon’ble Chief Minister Sri Revanth Reddy met with Iron Mountain's CEO, Mr. William Meaney, and Web Werks' CEO, Mr. Nikhil Rathi, during the World Economic Forum in Davos today. 

The meeting culminated in a significant investment announcement, with Web Werks pledging INR 5,200 crore to establish data centers in Telangana. 

Together with Hon’ble Minister of ITE&C, Industries, and Legislative Affairs, Sri Sridhar Babu, the Chief Minister, Mr. Meaney, and Mr. Rathi signed a Memorandum of Understanding (MOU) for data center investments totaling ₹5,200 crore to be made in Telangana over the coming years. 

Web Werks, a wholly owned subsidiary of Iron Mountain, plans to invest INR 1,200 crore in a networking-intensive 10 MW data center in Hyderabad, with this project already in progress. 

Over the next few years, Web Werks will also invest an additional INR 4,000 crore in a greenfield Hyperscale Data Center in Telangana. 

Expressing his satisfaction with the investment, Chief Minister Sri A. Revanth Reddy stated, “I am pleased to witness the influx of advanced IT infrastructure through data centers. With policy reforms, Telangana aims to become the leading destination for data centers in India. Investors will have the opportunity to source a significant portion of their power requirements from renewable resources. This investment reflects the growing confidence in our new government and validates our business-friendly policies.” 

William Meaney, President and CEO of Iron Mountain, added, “Iron Mountain values its partnership with the Telangana state government and is eager to expand our data center operations in India. Telangana is a clear priority for us. We currently utilize 100% renewable energy across our global data centers and look forward to implementing this in India. The new Congress government’s support for both data centers and renewable energy makes the state very appealing for ongoing investment.” 

Also present during the meeting were Principal Secretary of ITE&C and I&C, Sri Jayesh Ranjan, and Special Secretary for Investment Promotion, Sri Vishnu Vardhan Reddy.

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