(Reuters) -Logistics firm GLP said on Tuesday it has secured 2.5 billion yuan ($349.5 million) from Zhejiang government-backed investors to expand its China data center operations.
“As AI adoption accelerates and enterprises require advanced computing capabilities, data center capacity has become critical to supporting economic growth and innovation,” GLP said.
The investors include Quzhou Industrial, a state-owned enterprise, GLP added.
The group, through its asset management unit GLP Capital Partners, manages approximately $80 billion of assets under management.
Last November, Reuters reported that GLP was aiming for a Hong Kong listing this year, more than eight years after it was taken private.
The company currently develops and operates logistics real estate, data centers, renewable energy and related technologies, with operations across Brazil, China, Europe, India, Japan, the United States and Vietnam.
($1 = 7.1529 Chinese yuan renminbi)
(Reporting by Roshan Thomas in Bengaluru; Editing by Rashmi Aich and Sonia Cheema)
