The Eurasian Development Bank (EDB) and AKASHI DATA CENTER PLC have agreed on key terms for financing the first phase of construction of a Tier IV data center in Kazakhstan in the amount of US $90 million. The agreement was signed last week in Almaty on the sidelines of the EDB’s Annual Meeting and Business Forum by Sergey Ignatov, Senior Managing Director and Head of Projects at the EDB, and Vladislav Minkevich, Chairman of the Board of Directors of AKASHI DATA CENTER PLC.
The funds will be used to build the first phase of a 10 MW data center with a capacity of 520 server racks. The facility will be Kazakhstan’s first data center to meet the Tier IV standard – the highest reliability category for data storage and processing facilities established by the Uptime Institute.
“Demand for data storage and processing capacity in the region is growing rapidly, driven by the development of cloud services, digital platforms, and artificial intelligence-based solutions. Financing this project will allow us to continue building world-class infrastructure for hosting digital services in Kazakhstan and will be an important step in the development of the national AI data centre market,” commented Ignatov.
The total planned investments in the project are estimated at US $230 million. AKASHI DATA CENTER PLC plans to build a large-scale collocation data center in Astana with a total IT capacity of 41 MW and 3520 racks of the same Tier IV reliability level.
“The project is being created as an infrastructure platform for businesses, government organizations, and international technology companies. The EDB’s support will enable the first phase of construction and the creation of data centre capacity in Kazakhstan that meets the highest international standards for data centre reliability and fault tolerance. This will create additional opportunities for the development of digital services and artificial intelligence within the country, and will also help attract the attention of technology companies and startups focused on artificial intelligence and data storage to the region,” added Minkevich.
