Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Infratil signals A$50m investment in Canberra Data Centres

Infratil signals A$50m investment in Canberra Data Centres

By Gavin Evans

Dec. 14 (BusinessDesk) - Infratil says it expects to invest up to another A$50 million in Canberra Data Centres to help fund its on-going growth.

The data business, which Infratil bought into in 2016, has just acquired the Eastern Creek data centre in Western Sydney from DXC Technology. The site covers 145,000 square-metres and provides scope for progressive expansion over time.

The transaction has been funded with a combination of debt and equity from its existing shareholders – Infratil and the Commonwealth Superannuation Corp, with 48 percent each, and management.

Infratil said the shareholders are reviewing the appropriate medium-term capital structure, given the DXC transaction and strong organic growth in Canberra where CDC has started work on its sixth data centre. It expects to commit up to A$50 million into CDC during the next 12 months.

Wellington-based Infratil paid $412 million for its stake in CDC in 2016. It wants to profit from the increasing digitisation of services and the world’s growing need to manage the data being created, particularly for government and nationally critical infrastructure operators.

The business contributed more than $30 million to Infratil’s first-half operating earnings, almost twice that a year earlier. Faster than expected growth will see CDC’s annual earnings exceed A$110 million by 2020, Infratil said last month.

Infratil said the Sydney acquisition would enable CDC to meet demand from existing customers for a data facility outside Canberra. The centre's expansion would cater for new customers

“In this way CDC will continue to follow its strategy of providing highly secure, reliable and flexible data centre services to leading government and commercial clients across broader geographies.”

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Stats NZ: Largest Drop In Terms Of Trade In A Decade As Dairy Export Prices Sour

Lower export prices for dairy, meat, and logs in the September 2020 quarter led to the biggest drop in terms of trade since June 2009, Stats NZ said today. Export prices fell in the September 2020 quarter, down 8.3 percent from its highest ever ... More>>

ALSO:

Stats NZ: Election Boosts October Job Numbers

Job numbers were boosted by general election staff in October 2020, along with rises in the manufacturing, retail, and hospitality industries, Stats NZ said today. Filled jobs rose by 27,667 to 2.2 million in October 2020 compared with September, after ... More>>

Government: New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries

2000 additional RSE workers to enter New Zealand early next year employers must pay these workers at least $22.10 an hour employers will cover costs of managed isolation for the RSE workers RSE workers will be paid the equivalent of 30 hours work a week ... More>>

ALSO:


Media: Discovery, Inc. Completes Acquisition Of New Zealand’s Mediaworks TV Ltd

Auckland, New Zealand, December 1, 2020 - Discovery, Inc. (“Discovery”), the global leader in real-life entertainment, has completed its acquisition of New Zealand’s leading independent free-to-air commercial broadcaster, MediaWorks TV Ltd, now operating ... More>>

Department Of Conservation: Big Year Underway At Albatross Colony

Familiar faces are returning for the new season of Royal Cam, with a big breeding year underway for the toroa/northern royal albatross colony on Otago’s windswept Pukekura/Taiaroa Head. More than 120 albatrosses, a taonga species, have returned ... More>>

Real Estate: ASB Survey Reveals Majority Of Kiwis Expect House Prices To Keep Climbing

ALSO:

House price expectations are soaring as New Zealand’s housing market shifts up a gear. But stretched affordability is putting a dent in perceptions of whether it’s a good time to buy. While Kiwis reveal they do expect interest rates to fall further. ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>

ALSO: