Microsoft is to construct a data centre hub in Greece as it erupts in cloud solutions infrastructure in the nation, a boon to an economy weakened by a decade-long debt crisis and the coronavirus pandemic.
Speaking at a virtual event in Athens on Monday, Microsoft Corp President Brad Smith said the new hub will be beneficial to business, consumers and banks.
The size of the investment wasn’t revealed but government spokesman Stelios Petsas reported that it would involve new infrastructure at a cost of 500 million euros and yearly spending of 50 million euros from the next several years.
He later tweeted the investment will likely be Microsoft’s biggest in Greece in its 28 years of operating in the country. “This reflects our optimism in Greece’s future and economic recovery,” he explained.
Greek Prime Minister Kyriakos Mitsotakis said the data centre would bring long-term monetary benefits of 1.0 billion euros (approximately $1.17 billion) to Greece.
“Greece will become a world hub for cloud,” Mitsotakis said, adding that the state-of-the-art center would also upgrade the country as an investment destination.
He explained the project will incorporate a training program in digital skills for about 100,000 people.
The team at Platform Executive hope you have enjoyed this news article. Initial reporting via our official content partners at Thomson Reuters. Reporting by George Georgiopoulos and Angeliki Koutantou. Editing by Kirsten Donovan.
To stay on top of the latest developments across the platform economy and gain access to our problem-solving tools, databases and comprehensive content sets, you can subscribe for just $19 per month.