Categories: Business

Technology Business Park in Vizag to be setup by AdaniConneX

AdaniConneX, a company owned by Adani Enterprises, is constructing an Integrated Data Center and Technology Business Park in Madhurawada, Vizag with the goal of boosting the local technology ecosystem. According to the company, the facility will include a data center, technology and business park, as well as a skill development center.

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It will be the first of three planned technology zones in Vizag and will be one of India’s largest hyperscale parks. The facility is expected to create new opportunities for growth in the region, connecting Vizag to the APAC IT ecosystem.

Technology Business Park in Vizag by AdaniConneX: Key Points

The new park in Madhurawada, Vizag, will contain a 200+ MW data center with renewable energy, as well as a skill development center.
The groundbreaking ceremony was attended by Andhra Pradesh’s Chief Minister, Y S Jagan Mohan Reddy, Rajesh Adani (Managing Director of Adani Group), and Karan Adani (CEO and Whole Time Director of Adani Ports & SEZ (APSEZ) Limited).
AdaniConneX, a joint venture between Adani Group and EdgeConneX, will build the integrated data center facility within the park.
The facility will be powered by renewable energy and connected with terrestrial and submarine infrastructure, making it ideal for deploying cloud and emerging technologies in the region.
With EdgeConneX’s extensive experience in building data centers, AdaniConneX plans to deliver 1 GW hyperlocal to hyperscale data center capacity throughout India.
This new facility will be part of AdaniConneX’s strategic investment roadmap, serving as a model investment for other locations, and building India’s largest integrated data center platform.

AdaniConneX Additional Fund Investment

The company’s press statement states that they plan to invest additional funds on top of the Rs 20,000 crore already invested in the state of AP.
The previous investment created numerous job opportunities, with 18,000 direct and 54,000 indirect jobs.
The Adani Group has made investments across various sectors such as ports, logistics, and renewable energy in AP.
The Group runs two large private ports in Krishnapatnam and Gangavaram and has committed to developing 15,000 MW of renewable power projects and 10 million tonnes of cement manufacturing capacity in the state.

On May 3, 2023, the shares of Adani Enterprises, the flagship company of the Gautam Adani-led conglomerate, dropped by 6.98% to a day low of Rs 1,786.10 from its previous close of Rs 1,920.05.

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Important Takeaways For All Competitive Exams:

Andhra Pradesh’s Chief Minister: Y S Jagan Mohan Reddy
Managing Director of Adani Group: Rajesh Adani
CEO and Whole Time Director of Adani Ports & SEZ (APSEZ) Limited: Karan Adani

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