United States-based data centre firm Equinix said that it had signed agreements for additional joint ventures with Singapore’s sovereign wealth fund GIC to add US$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 centre portfolio to more than US$6.9 billion across 32 facilities globally.
The joint venture projects are expected to close during the course of 2021. GIC will own an 80 per cent equity interest in the future joint ventures and Equinix will own the remaining 20 per cent equity interest. Last April, Equinix signed a joint venture worth more than US$1 billion with GIC to build three data centres in Japan for the cloud computing market.