NTT creates joint venture with Tokyo Century for data center business in India

Tokyo based technology services provider NTT has partnered with Japanese financial services firm Tokyo Century Corporation to further expand its data center businesses in India. 

As part of the collaboration, NTT Global Data Centers Holding Asia (GDC HC) will divest 75% of its shares in NTT Global Data Centers Holding Asia BOM8 to Tokyo Century. BOM8 is a 100% subsidiary of a special purpose vehicle (SPV) that’s is developing a 9-storey data center in Mumbai. BOM8 is created to hold assets related to the data center business in Mumbai. 

With Tokyo Century acquiring 75% of SPV's outstanding common shares, the SPV will become a joint venture of GDC HC and Tokyo Century, according to a statement. GDC HC and Tokyo Century will jointly own the data center’s assets currently held by BOM8. 

The partnership with Tokyo Century marks the first joint investor in NTT's data center business. 

The data center, located 30 minutes from Chhatrapati Shivaji International Airport in Mumbai, has a total building area of over 310,000 square feet (approximately 29,000 square meters) and Critical IT load of 24 MW. The company expects the development to be completed by February 2022. It will accommodate large-scale cloud service providers known as hyperscalers. 

In November last year, NTT integrated three of its India business units, bring the firm’s technology services and solutions to the extended client base in India. The company said its infrastructure-focused businesses NTT India (formerly Dimension Data), NTT Com India and Netmagic would function as a single entity from January 1, 2021. 

NTT employs more than 30,000 people in India. 

Listed on the Tokyo Stock Exchange, Tokyo Century is involved in equipment leasing; mobility and fleet management, which includes auto leasing for corporate and individual customers as well as car rentals; specialty financing centered on aviation and real estate; and international business, which operates a global network encompassing over 30 countries and regions.