U.S.-based data centre firm Equinix Inc on Monday said it had signed agreements for additional joint ventures with Singapore’s sovereign wealth fund GIC to add $3.9 billion to expand a data centre programme.
The agreements for additional joint ventures in the form of limited liability partnerships with GIC, when closed, will bring the xScale data center portfolio to more than $6.9 billion across 32 facilities globally, Equinix said in a statement.
The joint venture projects are expected to close during the course of 2021. GIC will own an 80% equity interest in future joint ventures and Equinix will own the remaining 20% equity interest, the statement added.
Last year in April, Equinix signed a joint venture worth more than $1 billion with GIC to build three data centers in Japan for the cloud computing market.