GLP secures 2.5 billion yuan investment for China data centre

[SINGAPORE] Logistics company GLP said on Tuesday it had secured an investment of 2.5 billion yuan (S$449 million) from Zhejiang government-backed investors for its China data centre platform.

The investment will support GLP’s China data centre platform in expanding its nationwide operations, the Singapore-incorporated firm said in a statement.

GLP, according to its website, describes itself as a global company with offices in Singapore, Hong Kong and China.

Reuters reported in late November that the company was aiming for a Hong Kong listing this year, more than eight years after it was taken private.

In 2017, a Chinese private equity consortium backed by senior executives of the then-named Global Logistic Properties (GLP) won the bid to acquire GLP for S$16 billion.

GLP, once Asia’s largest warehouse operator, boasted a US$41 billion portfolio spanning China, Japan, Brazil, and the US.

The company currently develops and operates logistics real estate, data centres, renewable energy and related technologies, with a presence in 17 countries, including Brazil, China, Europe, India, Japan, the US and Vietnam. REUTERS