Monday, 4 April 2022

Enterprise Greece approves Microsoft investment in Data Centers for Fast Track


Enterprise Greece approves Microsoft investment in Data Centers for Fast Track

The Board of Directors of Enterprise Greece decided on 1st April 2022 to propose to the Interministerial Committee (DESE) for the inclusion of the Investment Plan "Investment in Data Centers in Greece" by Microsoft Operations 473 Single Member S.A.

The project will create a complex of data centers and technological business support, consisting of three (3) data centers, in different locations, Spata and Koropi, in the Attica Region. The project will develop and provide cloud computing services in Greece (Microsoft Cloud, Microsoft 365, Microsoft Azure, Dynamics 365 and Power Platform).

Data centers are used to store, process, and share large amounts of data to users, while cloud computing refers to the provision of computing resources via Internet (e.g., servers, apps, etc.), from central systems that are located far from the final user and could reach them by automated processes, providing a variety of services and connection flexibility.

The investor is a subsidiary of Microsoft Ireland Operations Limited, with the ultimate final shareholder being Microsoft Corporation (NASDAQ: MSFT), the fourth largest software & technology company worldwide. Microsoft Corp. has been operating in Greece since 1992, and maintains about 200 data centers in 34 countries, interconnected with more than 165,000 miles of submarine, land, and metropolitan areas of fiber optics. Microsoft Cloud already serves at least one (1) billion customers and twenty (20) million companies worldwide. The total amount of the investment not only satisfies the €100mil threshold as per the relevant legislation but will amount to several hundred million and is expected to create 300 new jobs within a decade.

Referring to the investment plan, the Secretary General for International Economic Affairs and Extroversion of the Ministry of Foreign Affairs and Chairman of Enterprise Greece, Ioannis Smyrlis, stated: "The implementation of this investment is of great importance for the Greek economy as it expands the country’s information and communication technologies sector and capabilities, and confirms that the Greek ICT industry offers unique opportunities for investment in value-added services with a global reach. As our Prime Minister, Kyriakos Mitsotakis, commented, when he announced, in 2020, Microsoft’s plan to invest in Greece, “An investment in a data center in any country, by a technology giant such as Microsoft, automatically upgrades the country as an investment destination."

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