Aurum Equity Partners announce USD 400 million investment to build next-gen data centre in Hyderabad
Aug 10, 2024
Palo Alto (California) [USA], August 10 : India-focused investment banking firm, Aurum Equity Partners, has announced a phased investment of USD 400 million to establish a next-generation, AI-powered, green data centre in Hyderabad.
The new plan significantly expands upon their previous commitment of USD 50 million, announced last year. The upcoming 100 MW data center will feature advanced AI capabilities and is designed to serve both hyperscalers and enterprises, a note added.
Speaking after the meeting, Telangana Chief Minister A. Revanth Reddy said, "We are happy that Aurum has decided to build an AI-powered, Green Data Centre, which will create many new jobs in Hyderabad."
Venkat Bussa, CEO and Chairman of Aurum Equity Partners stated, "Our next-generation data center framework is designed to bridge the digital divide between rural and urban India. This initiative will make government services such as e-Seva, e-Payment, and e-Education accessible to all, supporting our mission to connect every corner of the nation."
This investment underscores Aurum Equity Partners' commitment to advancing India's digital infrastructure, ensuring that both urban and rural areas have equal access to essential government services.
Minister D. Sridhar Babu, reacting after the successful meeting, said, "We are happy with the development. It showcases and underscores the significant rise of Hyderabad as a data centre hub. The stress and accent is clearly on AI-powered initiatives and Green Energy and sustainability."
Telangana is actively working towards attracting the investments and companies in the state.
Among the other initiatives, the Telangana CM, along with IT and Industries Minister Sridhar Babu Duddilla visited USA on a business tour.
Separately, Telangana CM Reddy also had a meeting held with the president of the World Bank Ajay Banga and they talked about various issues like Musi Riverfront, Skill University, Future City, and Citizen Health Care.
During his visit to the US, he also met various top CEOs and business leaders at a roundtable hosted by the Consulate General of India in New York.
