Two major data centre projects in Greater Noida to help boost real estate markets in the region: Experts
The move is expected help data centre businesses get decentralised from traditional Mumbai and Chennai strongholds.
The decision of Greater Noida Industrial Development Authority to allot six acres in Techzone 4 to a Japanese firm, NTT India, to set up a data centre of 70 MW capacity is expected to turn the area into an attractive data centre hub due to availability of infrastructure and help the business get decentralised from traditional Mumbai and Chennai strongholds. It is also expected to boost real estate markets in the region.
CESC is going to acquire a 23.18 per cent additional stake in Noida Power Company Ltd (NPCL) from promoter group entities for Rs 450 crore, turning the profit making electricity distribution venture a subsidiary of the company.
The RP-SG Group held a 72.73 per cent stake in NPCL while Uttar Pradesh government entity Greater Noida Industrial Development Authority held the balance 27.27 per cent. CESC Ltd directly held 49.55 per cent in the company, which started operations in 1993, while the rest was owned by two promoter group entities Shaft Investment Pvt Ltd and Stel Holdings Ltd.
The decision adds one more dimension to the company’s stated decision to consolidate existing and future distribution businesses under Eminent Electricity Distribution Ltd, a wholly owned step-down subsidiary.
Picture used for representational purpose only
GREATER NOIDA: More than 50 group housing societies will showcase their waste management skills before the local development authorities. According to officials of the Greater Noida Industrial Development Authority (GNIDA), a total of 52 entries have been registered for the society ranking competition that is scheduled this month.
The Authority will dole out cash reward of Rs 2 lakh to the winning society, Rs 1.50 lakh to the first runner-up and Rs 1 lakh to the one which bags the third position.
“Organised for the bulk waste generators in the region, the model being followed by the best society will be circulated among other societies in the town,” an official said.