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NextDC invests $2.25 billion to build data centers in Australia

Author : Ojaswita Kutepatil | Published Date : 2018-09-02 

Leading data center operator NextDC has declared plans to spend $2.25 billion on sites in Melbourne, Perth, and Sydney. The new sites will be developed into data centers for the likes of drones, nanotechnology and precision medicine.

The purchase of the new north shore site has been funded by a range of debt capital raisings and a range of equity equaling more than $600 million. NextDC’s new plans for the $20 million Perth site on Lord Street, where the company has proposed a 9-story data center for $195 million will soon commence development, claim sources.

Craig Scroggie, Chief Executive of NextDC was quoted saying that, the company is awaiting huge transitions from these exponential technologies. There’s immense scope for opportunity and NextDC is rather thrilled to be involved in the trend while building a major digital infrastructure for the economy.

The company had also invested $90 million for its S3 site over at Sydney CBD and had almost locked a deal for its site in Melbourne, added Scroggie.

The company will be spending $250 million to build its 15 megawatts M1 site located in Melbourne. The new sites will be the largest datacenters in Australia and create over 1000 new construction jobs in the country. 

The centers will be established with regards to Tier IV certification standards, which means their security ratings will be the highest and will get gold certified by the Uptime Institute for operational sustainability.

Last year the company experienced strong demand as its number of customers were up by 26% to 972 and utilization of its data capacity shot up to 28% to 40.2 megawatts.

Since the company is hinting at advanced negotiations with several potential customers, investors can watch out for new deals in the next 12 months.

Over the year NextDC reported revenue growth of 31% to $161.5 million, while its data center service revenue was up by $117.6 million to $152.6 million. 

For the year 2019, the company has predicted its revenue growth to exceed $194 million, cited sources.

About Author

Ojaswita Kutepatil

Ojaswita Kutepatil

Ojaswita Kutepatil, a mechanical engineer by qualification, worked as a BDE and Technical Engineer before switching her profession to content writing. Currently, she works at AlgosOnline. as an Content writer, where she pens down write-ups pertaining to the market research industry. Crafting, reading, and music are some of her other areas of interest.

She can be contacted at- [email protected] | https://twitter.com/ojaswita_k

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