DayOne-INA Indonesian data centre project gets USD 411m loan from DBS, UOB

Singaporean banks DBS Group and United Overseas Bank said on Thursday that they had jointly provided an IDR 6.7 trillion (USD 411 million) loan to finance a data centre campus in Indonesia. The banks said in a statement that the loan for the project, to be jointly developed by Singapore-based data centre company DayOne and the Indonesia Investment Authority (INA), was the largest ever rupiah-denominated data centre financing deal.

The funding comes at a time when investor appetite for data centres is growing in Asia, driven by demand for artificial intelligence and cloud computing-based services. The data centre project also marks INA’s first investment in the sector and an expansion of DayOne in Indonesia, according to the statement. INA is Indonesia’s sovereign wealth fund, wholly owned by the Indonesian government.