CitySpring in JV to develop and lease data centre

CITYSPRING Infrastructure Trust is forming a joint venture with architectural and engineering firm Shimizu Corporation to develop and lease a data centre, as it seeks to deepen its presence in telecommunications infrastructure.

The joint venture, in which its wholly owned subsidiary CityDC Pte Ltd will hold a 51 per cent stake, will design and build a data centre building and install all plant, mechanical and electrical equipment.

When the development works are completed and the data centre is ready for use, the joint venture will then lease the building to 1-Net, which is wholly owned by MediaCorp Pte Ltd.