Kuok Group Considers €5.3 Billion Data Center Hub Investment in Milan
Major Investment Plans and Regional Impact
Overview of the Proposed Investment
ROME, June 26 (Reuters) - Singapore's Kuok Group is assessing a potential investment plan of up to €5.3 billion for a data centre hub in northern Italy, Industry Minister Adolfo Urso said on Friday.
Meeting with Italian Officials
Urso hosted a meeting in Rome with a delegation from K2 Strategic, the digital infrastructure division of Kuok Group, in which the company presented a plan to build a hyperscale data centre campus in the southern outskirts of Milan.
Project Scale and Financial Details
The total investment for the development and long-term operation of a project with an overall capacity of around 300 megawatt could reach up to €5.3 billion ($6 billion), Urso's ministry said.
Regional Data Center Demand and Policy Initiatives
Growth in Data Center Demand
Milan's Lombardy region expects booming demand for data centres in Italy, regional councilor Massimo Sertori told Reuters this month, with investments estimated at around €22 billion over the next five years.
Government Support and Strategic Initiatives
Joint Working Group for Permitting
Earlier this month, Urso and Lombardy President Attilio Fontana established a joint working group aimed at streamlining permitting processes and handling applications for projects seeking designation as being of national strategic interest.
Additional Information
($1 = 0.8770 euros)
(Reporting by Giuseppe Fonte; writing by Francesca Landini, editing by Gavin Jones and Alvise Armellini)
