UAE-based Khazna Data Center has partnered with Benya Group to build the first hyper-scale data centre in Egypt, the Middle East, and Africa region.
The two parties signed the agreement during the first day of the 2023 ICT trade conference taking place in Egypt’s capital, Cairo.
As part of the commitment, Khazna and Benya plan to invest more than $250m in the planned data centre, which will support AI development in the UAE and the wider region, according to Khazna.
“We are thrilled to mark this occasion with the signing of the Shareholders Agreement with Benya Group as we prepare to break ground on the first hyper-scale data centre in Egypt,” said Hassan Alnaqbi, CEO of Khazna Data Centers.
“The new data centre will provide crucial support to businesses in Egypt seeking to expand internationally, offering state-of-the-art solutions that cater to the needs of multinational corporations striving to grow and innovate in the Middle East and North African markets,” he added.
News about the hyper-scale data centre comes at a time when rising grain prices, as a result of Russia’s war in Ukraine, have challenged the Egyptian economy.
Access the most comprehensive Company Profiles
on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Company Profile – free
sample
Your download email will arrive shortly
We are confident about the
unique
quality of our Company Profiles. However, we want you to make the most
beneficial
decision for your business, so we offer a free sample that you can download by
submitting the below form
By GlobalData
In 2021, foreign direct investment (FDI) inflows were $5.1bn, down from $5.5bn in 2020 when Covid struck, according to the US Department of State. Understanding the challenges ahead, government officials have stepped up their efforts to attract investment as the country prepares to move its capital to a newly built city on the outskirts of Cairo.
Ahmed Mekky, chairman and CEO of Benya Group, also welcomed the investment in Egypt, adding: “We are eager to embark on the next phase of our partnership with Khazna Data Centers. This agreement that we are signing today marks an essential milestone in our journey to solidify our presence in constructing advanced data centres in the country, supported by our partner, Khazna Data Centers, which is renowned for its unparalleled expertise in this field.”
