GLP Pte Ltd., a global thematic business builder, investor and investment manager, has signed a strategic partnership agreement with Zhejiang government-affiliated entities, who will invest a total of RMB 2.5 billion ($350 million) into GLP’s China data center business.
The partnership involves Quzhou Industrial Holding Group, a state-owned enterprise based in Zhejiang province, who will become a strategic shareholder of GLP’s China data center business.
The transaction builds on the strategic alignment reached in April between Governor Liu Jie of Zhejiang and Ming Z. Mei, GLP co-founder and CEO, to deepen collaboration on industries of the future. This marks the first milestone in a comprehensive partnership that both parties are jointly developing.
The RMB 2.5 billion investment will enable GLP to scale data center operations across the country. Established in 2018 to develop and operate data center facilities across China, the company’
