The FINANCIAL — IFC, a member of the World Bank Group, is making a $25 million equity investment in data center operator Zenium to support the development, construction, and operation of a 12,000-square-meter facility in Istanbul, expanding access to information technology infrastructure for businesses in Turkey.
Istanbul One will nearly double the city’s commercial datacenter capacity and is the first wholesale data center in Turkey built to top industry standards offering seamless, reliable services to Turkish and international businesses. By leasing out commercial space, the center will enable firms to focus on their core business and increase efficiency while maintaining full ownership and control of their mission-critical equipment and applications, according to IFC.
“The investment by IFC, a sophisticated investor with a successful track record supporting the technology sector in emerging markets, will allow us to establish a strong base and continue expanding our business in Turkey,” said Franek Sodzawiczny, the CEO and Founder of Zenium.
The new earthquake-resistant top-tier datacenter run by an internationally experienced management team will boost the size and competitiveness of Turkey’s data center market, satisfying demand from the country’s growing business community and laying the foundation for the fast-expanding cloud computing market to enter Turkey.
“In today’s world, IT infrastructure is increasingly important for economic development,” said Atul Mehta, IFC Director, Telecoms, Media and Technology. “Zenium’s new data center will provide a cost-efficient, reliable, and secure environment for electronic information storage and processing to Turkish and international companies, contributing to the creation of a favorable business and investment environment in the country.”
IFC has supported private sector development in Turkey for 50 years. With a $4.3 billion outstanding portfolio, Turkey is the third largest country in IFC’s global portfolio. In line with the World Bank Group Turkey Country Partnership Strategy for fiscal years 2012 to 2016, IFC has so far invested approximately $2.8 billion in private sector projects in Turkey over the last three years.