Hon’ble Chief Minister Sri Revanth Reddy met with the CEO of Iron Mountain, Mr. William Meaney and the CEO of Web Werks, Mr. Nikhil Rathi at the World Economic Forum in Davos today.

The meeting led to a major investment announcement, in which Web Werks would announce INR 5,200 crore to establish data centres in Telangana.

Hon’ble Chief Minister Sri Revanth Reddy, along with Hon’ble Minister of ITE&C, Industries, and Legislative Affairs, Sri Sridhar Babu, and CEO of Iron Mountain, Mr. William Meaney, and the CEO of Web Werks, Mr. Nikhil Rathi, exchanged an MOU for data center investments amounting to a total of ₹5,200 Crores to be invested in Telangana over the next few years.

Web Werks, a fully owned subsidiary of Iron Mountain, will invest INR 1,200 crore in a 10 MW networking-heavy data center in Hyderabad. This investment is already underway.

Web Werks will expand over the next few years by investing over INR 4,000 crore in a greenfield Hyperscale Data Center in Telangana.

Welcoming the investment, Chief Minister Sri A. Revanth Reddy said, “I am happy to see the inflow of highly technical IT Infrastructure from Data Centers. Through policy changes, Telangana will be the top destination for Data Centers in India. Investors will be able to procure significant amounts of their power requirement from renewable sources. It also shows the growing trust in our new government and endorses our business-friendly policies.”

“Iron Mountain appreciates the partnership with the state government of Telangana, and expanding our data center operations in India. State of Telangana is a clear priority. We currently use 100% renewable energy across our data centers globally and look forward to extending this in India. The new Congress government’s support of both data centers and renewable energy make the state very attractive for continued investment,” said William Meaney, President and CEO of Iron Mountain.

Principal Secretary ITE&C, I&C Sri Jayesh Ranjan, and Special Secretary, Investment Promotion, Sri Vishnu Vardhan Reddy were also present during the meeting.