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 corporation, the complex will contain a data centre, a technology and business park, and a talent development centre.
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.
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Technology Business Park in Vizag by AdaniConneX: Key Points
• The new park in Madhurawada, Vizag, would include a 200+ MW renewable energy data centre as well as a skills development centre.
• 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.
• Because the facility will be fueled by renewable energy and will be linked to terrestrial and undersea infrastructure, it will be perfect for installing cloud and developing 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 operates two big private ports in Krishnapatnam and Gangavaram and has pledged to developing 15,000 MW of renewable energy projects in the state as well as 10 million tonnes of cement manufacturing capacity.
• 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.
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
