GLP secures landmark investment for China data centre

Zhejiang government-affiliated entities will invest $450m (RMB 2.5b).

GLP Pte Ltd. has announced the signing of a landmark agreement with Zhejiang government-affiliated entities for an investment worth $450m (RMB 2.5b) that will be used to expand GLP's China data centre operations.

The partnership involves Quzhou Industrial Holding Group, a state-owned enterprise based in Zhejiang Province, which will become a strategic shareholder in the company’s China data centre business.

According to GLP, the investment will enable the company to scale data centre operations across the country. Established in 2018 to develop and operate data centre facilities across China, the company’s portfolio includes 20 data centres.

$1 = RMB 5.56