The investment will initially focus on expediting development at Colt’s existing sites in Navi Mumbai and Ambattur, Chennai.
Colt has announced a new billion-dollar investment plan for India.
Colt Data Centre Services and family-owned alternative asset owner RMZ this week announced a 50:50 joint venture to invest $1.7 billion in the Indian data centre market.
News of a potential joint venture between the two companies surfaced last month. The companies this week said the investment will initially focus on expediting development at Colt’s existing sites in Navi Mumbai and Ambattur, Chennai, with an additional third site to be added in the future.
The data centres will have a combined capacity of approximately 250MW upon completion of all phases.
RMZ Corp is a real estate developer in India, specialising in eco-friendly buildings and office spaces. The company first announced plans to move into the data centre space last year – with potential developments across Bengaluru, Chennai, Hyderabad, Mumbai, Pune, and the National Capital Region in Delhi.
Deepak Chhabria, CEO of RMZ Infrastructure, said, “We are witnessing an extraordinary shift in the data centre landscape, driven by the accelerating demands of cloud adoption and the AI revolution. At RMZ Infrastructure, we recognize that digital infrastructure is not just an investment theme but a cornerstone of India’s economic future. Colt DCS’ proven track record in delivering high-quality, scalable solutions aligns perfectly with our vision for India.”
Fidelity-backed Colt updated its website back in March 2023 to announce its plans to expand into India with a 10-building campus in Navi Mumbai.
The company then officially announced plans to invest around $750 million in developing data centres in Mumbai and Chennai back in September 2023 with the first phase of the Navi Mumbai campus going live around the same time. The company then reportedly acquired another 15-acre land parcel in Navi Mumbai’s Airoli, close to its existing operational facility, over the summer.
At full build-out, the Airoli campus will total 40 data halls and 40,000 sqm (430,500 sq ft) of data centre white space across a 62,000 sqm (667,000 sq ft) site. The campus was originally planned to have 120MW at full build-out, but Colt DCS is now planning to expand this to 150MW.
Colt acquired 10 acres in the Ambattur area of Chennai, Tamil Nadu, in March 2024. The company aims to deliver an 80MW data centre on the site by 2027.
Niclas Sanfridsson, Colt DCS CEO, added, “In terms of our expansion, India remains a strategic country of focus and key in terms of delivering against our aggressive growth strategy. Colt DCS has a proven track record, working with the world’s largest hyperscale cloud providers and multi-national companies. The partnership with RMZ will provide the opportunity to further accelerate and execute our ambitious plans.”
