May 29, 2024 Approval of Support Decision for Eligible Projects by the Fund Corporation for the Overseas Development of Japan’s ICT and Postal Services Inc.
(Project to Develop and Operate Data Centers in India (Additional Support))

 Today, the Minister of Internal Affairs and Communications approved the application from Fund Corporation for the Overseas Development of Japan’s ICT and Postal Services Inc. (headed by OSHIMA Amane, President & CEO) to decide additional support for the project to develop and operate data centers in India.

1. Background

 Fund Corporation for the Overseas Development of Japan’s ICT and Postal Services Inc. (hereinafter referred to as “JICT”) submitted an application to the Minister of Internal Affairs and Communications based on the provisions of Article 25, Paragraph 2 of the Act on the Fund Corporation for the Overseas Development of Japan’s ICT and Postal Services (Act No. 35 of 2015). This application is to seek approval for JICT’s decision to additionally support the project to develop and operate data centers in India (hereinafter referred to as “Target Project”).
 In response to the application, the Minister examined the content of the support and the Target Project according to the JICT Support Standards (MIC Notification No. 412 of 2015) and confirmed that the project meets the Support Standards. Accordingly, the Minister has today approved the application as requested.

2. Target businesses

 JICT, together with NTT Global Data Centers Holding Asia Pte. Ltd., will provide support through an additional investment of up to 91.2 million US dollars to expand the project to construct, develop, and operate data centers in India. This is additional support for the project for which the decision to provide support was approved on October 24, 2022.
 The additional investment provided by JICT for the data center project, which requires substantial capital investment and a long payback period, will contribute to the acceleration of overseas business expansion of Japanese business operators that possess expertise and technology in data center development and operation and further strengthen the international competitiveness of these companies in this field. Details, including the project scheme, are given in the Attachment.

[Summary]

• Target project: Project to develop and operate data centers (additional support)
• Target area: India
• Approved amount of support by JICT: Investment up to 91.2 million US dollas
• Investment partners: NTT Global Data Centers Holding Asia Pte. Ltd.

Note1:
 Approval of Support Decision for Eligible Projects by JICT.
(Project to Develop and Operate a Data Center in India)
(Press release dated October 24, 2022)
https://www.soumu.go.jp/main_sosiki/joho_tsusin/eng/pressrelease/2022/10/24_02.html

Note2: Fund Corporation for the Overseas Development of Japan's ICT and Postal Services（JICT）
 JICT is a stock company which was founded in November 25,2015 based on the Act on the Fund Corporation for the Overseas Development of Japan’s ICT and Postal Services. JICT's purpose is to contribute to sustainable growth of the national economy, as a result of efforts to improve the profitability of business operators in Japan who respond to the relevant demands, through the expansion of common demand for communication, broadcasting and postal businesses in Japan and overseas, by providing funds and other support for persons engaged in communication, broadcasting and postal businesses overseas or persons who support the businesses, utilizing the knowledge, technology and experience accumulated by Japanese business operators.