Etisalat has announced that it has teamed up with Group 42 in a joint venture operating under Khazna Data Centers. They have come together to form the largest data center provider in the United Arab Emirates, with a capacity of 300MW.
Eng. Hatem Dowidar, Chief Executive Officer of Etisalat Group, said: “Today, Etisalat and G42 are embarking on a bold new journey which will allow us to leverage our investments and expertise to deliver next-generation digital infrastructure. Keeping in line with our overall strategy and vision of ‘Driving the Digital Future to Empower Societies’, we at Etisalat are committed to a total transformation of customer experiences. Etisalat Group today has set the foundation for creating a market leader in this space, and together with G42, we will take this to the next level.”
Speaking about how the joint venture will help to meet demand, Khazna CEO Hassan AlNaqbi said: “The levels of data produced, stored, and analyzed is increasing exponentially in the Middle East region, driving significant demand for wholesale data centers."
Peng Xiao, group chief executive officer of G42, added: “We are honored to partner with a leading telecom operator like Etisalat Group and strengthen the UAE’s data center proposition and economic ambition for the future."
Further to this, Xiao said: "As data storage and cloud infrastructure demand continues to rise in the UAE and globally, this new partnership between Etisalat and Khazna, our data center business, will allow the country to accelerate its digital transformation journey, propelling public and private organizations into a new era of intelligence, resilience, flexibility and commerciality."
According to reports, the closing of the transaction is subject to the finalisation of transaction documentation, regulatory approvals, and other administrative procedures.
