GIC and Equinix to build 2 data centres in Seoul with US$525m joint venture

Singapore

SINGAPORE'S sovereign wealth fund GIC is establishing a US$525 million joint venture (JV) with Equinix that will see both parties develop and operate 2 xScale data centres in Seoul, Korea.

In a press statement on Thursday (Jan 27), the Nasdaq-listed US data centre firm said its new JV will be in the form of a limited liability partnership with GIC, which is expected to close in Q1 of 2022.