Equinix (Nasdaq:EQIX), a provider of global data center services, today announced the opening of its second International Business Exchange (IBX) data center in Singapore, located in the western region of Singapore.
The $45 million first phase of the new Singapore-2 (SG2) IBX center will add 700 cabinets to Equinix's capacity in the Singapore market. With the Phase 2 expansion, which is currently in the design phase, the SG2 center will have a total capacity of 1,700 cabinets and 10,219 square meters (110,000 square feet) at full build out.
Driving Equinix's expansion in Singapore is the significant growth in demand from the company's existing customer base of carriers, content providers and enterprises, coupled with increasing traction from companies throughout South Asia and financial trading companies. In addition to providing much needed colocation space, the new center will enable Equinix to continue the strong growth of the company's peering business, as the SG2 center will be located near one of the key submarine cable landing stations in Singapore.
"Singapore is a strategic market to Equinix and the company's SG1 center is the most network-dense data center in the country," said Steve Smith, president and CEO of Equinix. "We've seen continued strong demand in the region and even with the recent completion of the phase 4 expansion of the SG1 center in Q2 2009, SG1 is reaching maximum capacity. Today's opening of the SG2 center will enable Equinix to continue to meet customer demand while planning for SG2's second phase, with construction expected to start in Q2 2010."
Mr. Leo Yip, Chairman of the Singapore Economic Development Board, welcomed Equinix's opening of the SG2 center and the company's continued expansion in Singapore. "Equinix's investment reinforces Singapore's position as a global IT hub and home for businesses seeking to expand in Asia. There is a rapidly growing market for connectivity and data hosting in Asia. The opening of Equinix's second data center is therefore timely as more companies choose Singapore as their data hub to leverage on new growth opportunities in the region."
"Singapore's robust and trusted infocomm infrastructure as well as skilled infocomm manpower provide excellent support for companies like Equinix and activities such as data centers," said RADM(NS) Ronnie Tay, CEO of the Infocomm Development Authority of Singapore. "Companies can also take advantage of our ideal location as the regional gateway and telecommunications hub to expand their business operations and customer base in Asia."
The center is part of Equinix's continuing program of measured global expansion to meet demand. Elsewhere in the Asia-Pacific region, Equinix has recently opened a new SY2 center in Sydney, and the fourth phase expansion of the existing HK1 center in Hong Kong will be opening soon. To support Equinix's growing global business, a new global IT development center was also launched in Singapore in April 2009.