GLP secures 2.5 billion yuan investment for China data centre

[SINGAPORE] Logistics company GLP said on Tuesday (Aug 26) it had secured an investment of 2.5 billion yuan (S$449.5 million) from Zhejiang government-backed investors to expand its China data centre operations.

“As AI (artificial intelligence) adoption accelerates and enterprises require advanced computing capabilities, data centre capacity has become critical to supporting economic growth and innovation,” GLP said. The investors include Quzhou Industrial, a state-owned enterprise, GLP added.

The group, through its asset management unit GLP Capital Partners, manages approximately US$80 billion of assets under management.

Last November, Reuters reported that GLP was aiming for a Hong Kong listing this year, more than eight years after it was taken private.

The company develops and operates logistics real estate, data centres, renewable energy and related technologies, with operations across Brazil, China, Europe, India, Japan, the US and Vietnam.