US data firm Equinix clinches new JV deals with Singapore’s GIC

US based data centre firm Equinix Inc on Monday said it had signed agreements for additional joint ventures with Singapore’s sovereign wealth fund GIC to add $3.9 billion to expand a data centre programme.

The agreements for additional joint ventures in the form of limited liability partnerships with GIC, when closed, will bring the xScale data centre portfolio to more than $6.9 billion across 32 facilities globally, Equinix said in a statement.

The joint venture projects are expected to close during the course of 2021. GIC will own an 80% equity interest in the future joint ventures and Equinix will own the remaining 20% equity interest, the statement added.

Last year in April, Equinix signed a joint venture worth more than $1 billion with GIC to build three data centres in Japan for the cloud computing market. Reuters