Equinix Expands Footprint in Mumbai to Address Rising Demand for Digital Infrastructure
The company's fourth facility in India to support enterprises' digital transformation and the country's digital economy
MUMBAI, India, and REDWOOD CITY, Calif., Aug. 10, 2023 /PRNewswire/ -- To support India's growing digital economy, which is expected to reach $1 trillion by 20261, Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company ®, today announced an investment of $42 million for its fourth International Business Exchange® (IBX®) data center in Mumbai, called MB4. The new facility will allow local and overseas businesses to expand their digital capability as a foundation to accelerate digital transformation in India.
According to JLL, a leading global commercial real estate and investment management company, the Indian data center industry reached 637 MW as of H1 2022 and is expected to reach 1,318 MW by 2024.2 In addition, the Equinix Global Tech Trends Survey 2023 indicates that 85% of IT leaders surveyed in India plan to increase spending on interconnection in the next twelve months. The addition of MB4 will expand Equinix's digital infrastructure capacity in India to address the rising demand for data center and interconnection services among businesses.
Manoj Paul, Managing Director, Equinix India commented, "The increased digitalization of the economy is constantly driving the need for data center and interconnection services in India. The availability of MB4, expected in Q4 2023, will allow us to continue serving our customers' needs in India, enabling them to leverage our interconnection platform for efficient connectivity to multiple cloud service providers, network service providers and other businesses. This will help existing and new customers accelerate their digital transformation journey."
MB4 will offer expanded connectivity options to major telco networks along with Metro Connect® availability to the highly connected Equinix data center sites of MB1 and MB2. Scheduled to open in Q4 2023 (subject to regulatory approvals), the first phase of MB4 will provide an initial capacity of 350 cabinets. When fully built out, the facility is expected to provide 700 cabinets.
Equinix operates 250 data centers across 71 metros, providing digital infrastructure for more than 10,000 of the world's leading businesses. In Asia-Pacific, Equinix currently operates 52 data centers in key metros across Australia, China, Hong Kong, India, Japan, Korea and Singapore. The company also recently announced its plans to enter Malaysia and Indonesia to support business expansions into these emerging markets in the region.
Equinix currently has two IBX data centers in Mumbai, named MB1 and MB2. The two data centers are home to the digital infrastructure of more than 300 international and local companies, including access to the world's leading cloud service providers Amazon Web Services, Google Cloud and Oracle Cloud. They also host global networks, content delivery network providers, local carriers, more than 165 internet service providers (ISPs) and five internet exchanges. Businesses can use Platform Equinix® to quickly interconnect with these providers and their own global IBX deployments using on-demand, self-service connectivity.
In March 2022, Equinix announced its plan to enter the Chennai market with a land acquisition of over 5.5 acres. In June 2022, Equinix announced plans to expand its footprint with an investment of over US$86 million to build its third data center in Mumbai, called MB3.
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company®. Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX data centers, including MB4, and developing, deploying and delivering Equinix products and solutions, unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenues from customers in recently built out or acquired data centers, including MB4; a failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; risks related to our taxation as a REIT; and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
2 JLL's Data Centre Update: H1 2022
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SOURCE Equinix, Inc.
Released August 10, 2023