24 October 2022

JICT Decides to Support a Project to Establish and Operate
Data Centers in India
Fund Corporation for the Overseas Development of Japan’s ICT and Postal Services Inc. (hereinafter “JICT”) (Chiyoda-ku,Tokyo, President & CEO: Amane Oshima) announced today that it will participate in the running of a data center business inIndia along with NTT Global Data Centers Corporation (“NTT GDC”) (head office: Chiyoda-ku, Tokyo; President: YasuoSuzuki) and Tokyo Century Corporation (“TC”) (Chiyoda-ku, Tokyo, President and CEO: Koichi Baba). In specific terms, 30%of issued shares in an intermediary holding company in Singapore (“SPV”) that is currently owned by NTT Global Data Centers
Holding Asia Pte. Ltd (“GDC HC), which is a consolidated subsidiary of NTT GDC and TC, will be transferred to JICT. JICT will
jointly own all assets pertaining to the data centers owned by SPV’s 100% Indian subsidiary NTT Global Data Centers NAV2
Private Limited (“NAV2”). JICT has today received approval from the Minister of Internal Affairs and Communications to invest
up to approximately 86 million US dollars to SPV.
As the demand for data centers has increased due to the expansion of the volume of data traffic resulting from factors
including the use of AI and big data, the market size of data centers in India is expected to increase to 10 times its current

size in next ten years and significant growth is widely expected in the future. Given this background, NTT GDC and TC decided
in November 2021 to jointly operate NAV2*1 with the aim of maximizing investment efficiency and further promoting
collaboration to accelerate investment in the data center business, and JICT is to provide support for this initiative. Goingforward, the plan is to construct a total of up to 13 data centers in India through the asset holding company NAV2.
Through this project, JICT will provide support to the NTT Group, which operates data centers around the world, and TC,
which provides a wide variety of finance and services as a partner company in taking forward the business strategy, and it isexpected that the competitiveness of Japanese businesses will be further strengthened. Furthermore, data centers play a keyrole in infrastructure for the digitalization of society along with submarine cables, and its importance is growing more andmore. It is planned that there will be collaboration between this project and the optical submarine cable business in theSoutheast Asia region that JICT has participated in as the 6th support project*2.
JICT will continue supporting Japanese companies' overseas business development in the areas of information andcommunications, broadcasting and postal services.

*1 NTT Global Data Centers and Tokyo Century expand collaboration in the Data Center business in India
https://group.ntt/en/newsrelease/2021/11/08/211108a.html*2 Decision to Support the Optical Submarine Cable Business in the Southeast Asia Region
https://www.jictfund.co.jp/en/wp-content/uploads/sites/2/2020/01/20191010_press_en.pdf

Outline of JICT’s financing support
1.Target project: maintenance and operation business of data centers
2. Target country: India
3. Approved amount of funds to be supplied by JICT: Approx. years approx. 86 million US dollars maximum
4. Investment partners: GDC HC (NTT GDC consolidated subsidiary), TC
5. Estimated timing of the execution: December 2022 (planned)

Project image
Image of internal structure(3) Uninterruptible power supply (UPS)(2) Power receiving equipment(5) Server racks(can also be customer assets)(1) Land/buildings/
on-premise wiring, etc.

The internal structure of a data center mainly comprises
land/building/on-premise wiring (inc. electricity and comms wiring),
power receiving equipment, UPS and other power supply equipment,
air conditioning equipment, etc.

Data center service
contract(4) Air conditioning equipmentv

Tenant companies(ICT companies)

Data center construction/maintenance management

Investment scheme
NTT GDC100%
subsidiary

GDC HCTC

JICT

Investment, etc.

Intermediary holding company (SPV, Singapore)
Investment

Indian company (NAV 2)(Contact)
Management Strategy Division, Fund Corporation for the Overseas Development of Japan’s
ICT and Postal Services Inc.
Tel: 03-5501-0092 Fax: 03-3593-6770