Kazakhtelecom plans to raise several billion dollars for its Data Center Valley project in Ekibastuz, infohub.kz reports.
Bagdat Mussin, chairman of the company's management board, told Reuters in an interview that the funds are to be raised through bonds, the Development Bank of Kazakhstan, and international financial institutions.
"Implementing the Data Center Valley project will require substantial sums, measured in more than one billion dollars. Various instruments are already being used to attract this financing, including bonds on the AIFC platform and funds from the Development Bank of Kazakhstan. Work is also underway to secure funding from international financial institutions," the head of Kazakhtelecom said.
According to him, the company is in talks with a number of Chinese and American institutions about raising financing. The exact amounts and timelines remain unknown.
Recall that Kazakhstan signed an agreement with Firebird Inc. on computing projects involving NVIDIA. The Future Data Center Valley project in Kazakhstan is expected to attract $10 billion in investment. The data centers will use servers based on NVIDIA graphics processing units.
The data centers will have a capacity of at least 300 MW, with possible expansion to 1 GW.