Billionaire Oleg Deripaska’s En+ Group has announced plans to invest $355 million in a new data center that will be located in Siberia. The company chose that location because of its cheap electricity and a rising demand for data services in the region.
The new Siberian data center will be used to pass along and store data for customers in Russian and Asian markets. En+ Group, Huawei, and several other agencies signed an accord on Thursday in Beijing.
Deripaska will use his Siberian hydropower stations that feed his aluminum smelters to power the data center.
Demand for data centers in Russia have increased in recent months after Russia’s President Vladimir Putin declared that all data for Russian customers must be stored on Russian servers.