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Khazna Data Center signs $250 million deal with Egypt
Khazna signed an MoU with Egypt’s Benya Group for a hyper-scale data center, construction to begin later this year
Khazna Data Centers (Khazna) is about to enter Egypt soon. The company announced that it’s planning to set up a hyper-scale data center in Maadi Technology Park with an investment of $250 million. This will be the first of its kind data center in Egypt.
The data center is expected to have a capacity of 25 MW of IT load which will open business opportunities in the country and target big corporations entering the MENA region to push growth and innovation.
“We are confident that our expertise and track record in delivering high-quality hyper-scale data centers, combined with Benya’s local knowledge and experience, will enable us to provide customers with the best-in-class data center services in the region, transforming Egypt into a vital hub for data storage supporting the growth of its digital economy,” said Hassan Alnaqbi, Chief Executive Officer of Khazna Data Centers. The twitter handle of Khazna also shared the news on the social media platform.
Khazna Data Centers is set to build Egypt's first hyperscale data center with Benya Group at Maadi Technology Park, with a total investment of USD 250M. This unlocks opportunities for businesses in #Egypt and corporations pursuing growth and innovation in the #MENA market. pic.twitter.com/wvFNPAzfmg
— Khazna Data Centers (@khazna_dc) May 8, 2023
Egypt is working toward reforming digital service policies and upgrading its infrastructure to expand its Information and Communications Technology (ICT) sector for economic growth. It is also seeking new investments to scale its digital infrastructure as data demand has increased in the past few years.
“We are thrilled to announce our partnership with Khazna, which will enable us to enter the hyper-scale data center construction sector with full force,” said Ahmed Mekky, Chairman and CEO of Benya Group. He added, “The new hyper-scale data center will not only meet the needs of the Egyptian market but also, through its extensive capabilities, serve African and Middle Eastern countries.”
The construction of the new data center is expected to start later this year and be completed in the next three years.
This will also support Khazna’s growth strategy into international markets, reinforcing its commitment to expand operations beyond the UAE.