Mar 05, 2023 | Posted by MadalineDunn
Megawide Construction is joining forces with Evolution Data Centres to acquire, develop, build, and operate center assets in the Philippines following the signing of a $300 million shareholder agreement between the two. Through this agreement, the company will develop a 69 MW colocation data center located in Cavite, with phase 1 featuring a 23 MW deployment which will be spread over five years and based inside a four-hectare property.
Speaking about this development, Jaime Feliciano, Megawide's chief business development officer, said: "Megawide is very excited about this venture because it represents the company's first investment in the digital infrastructure space. While we have focused on transport and social infrastructure in recent years, current technological advances have significantly changed everyday life."
Feliciano added: "Digitalization has greatly affected enterprises and consumers alike and data centers are at the very core of this new reality."
Meanwhile, Evolution CEO Darren Webb, commented: "Rising data consumption and strong governmental support for digital transformation are causing hyper-scalers and cloud service providers to consider the Philippines as they expand their operations. We are delighted to be partnering with Megawide to develop this innovative data center in this exciting high-growth region."
The facility is subject to regulatory approval.
Speaking about this development, Jaime Feliciano, Megawide's chief business development officer, said: "Megawide is very excited about this venture because it represents the company's first investment in the digital infrastructure space. While we have focused on transport and social infrastructure in recent years, current technological advances have significantly changed everyday life."
Feliciano added: "Digitalization has greatly affected enterprises and consumers alike and data centers are at the very core of this new reality."
Meanwhile, Evolution CEO Darren Webb, commented: "Rising data consumption and strong governmental support for digital transformation are causing hyper-scalers and cloud service providers to consider the Philippines as they expand their operations. We are delighted to be partnering with Megawide to develop this innovative data center in this exciting high-growth region."
The facility is subject to regulatory approval.
