Equinix Enters Malaysia, Commits $40m to Building Data Center in Johor

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Equinix Enters Malaysia, Commits $40m to Building Data Center in Johor

<p class="MsoNormal">Equinix (<a href="https://www.financemagnates.com/tag/equinix/">NASDAQ:EQIX</a>), a publicly-listed digital infrastructure company, has entered Malaysian markets and plans to invest $40 million in a new <a href="https://www.financemagnates.com/terms/d/data-center/" target="_blank" id="15e21ee2-47b7-466a-8723-403e3053c1b2_1" class="terms__main-term">data center</a> called JH1. The facility would be located in Johor, the country's capital, which is home to more than 2.5 million people.</p><p class="MsoNormal">According to the press release, the multi-million investment is scheduled to begin operations in 2024, supporting local companies and businesses with International Business Exchange (IBX) data center. </p><p class="MsoNormal">Equinix wants to tap the potential of Malaysia's digital economy, which is expected to be worth $34 billion by 2025. Local companies will gain the opportunity for international growth, while foreign investors will be able to develop their businesses in the local market.</p><p class="MsoNormal">"Establishing a presence in Johor strengthens Equinix's leadership position in Asia-Pacific within a strategic market such as Malaysia, one of the most requested markets in Asia-Pacific by our global customers. I would like to express our gratitude to the Digital Investment Office (DIO), Invest Johor, and Tenaga Nasional Berhad (TNB) for their assistance and support," Jeremy Deutsch, the President at Equinix for the Asia-Pacific region, commented.</p><p class="MsoNormal">"We look forward to deepening our collaboration through future expansion, maximizing local businesses' digital growth potential with rich digital experiences and outcomes."</p><p>Another Data Center After Colombian Investment</p><p class="MsoNormal">In October 2022, Equinix <a href="https://www.financemagnates.com/forex/equinix-commits-45m-to-building-its-second-data-centre-in-colombia/">announced</a> another +$40 million investment. According to the press release, the international business exchange data center will be based in Bogotá, Colombia and is planned to launch in the first half of 2023.</p><p class="MsoNormal">The investment occurred almost a year after the <a href="https://www.financemagnates.com/terms/a/acquisition/" target="_blank" id="3180494d-8751-4a02-9476-86dc1cd4d2e2_1" class="terms__secondary-term">acquisition</a> of data centers in Peru and Chile, aiming to deepen the company's presence in the Latin America region. Since 2011, Equinix has spent over $2 billion in LATAM.</p><p class="MsoNormal">In early November, the company <a href="https://www.financemagnates.com/fintech/equinix-reports-212-million-in-net-income-for-q3-2022/">published</a> its financial results for the third quarter of 2022. Operating income and revenues reached a modest increase, but the net income of $212 million was 2% lower when compared to the previous quarter.</p>

This article was written by Damian Chmiel at www.financemagnates.com.

Source: Equinix Enters Malaysia, Commits $40m to Building Data Center in Johor