ISLAND INFORMATION & Technology, Inc. (IS) said one of its subsidiaries is planning to develop a site within the Clark complex to host data centers.
In a disclosure on Monday, IS said its Island Data Centers (IDC), Inc. unit entered into a memorandum of agreement with a firm called Y-I Corp. to jointly establish a property management company on a 50:40 basis whose main asset will be property rights to a three-hectare site leased from Clark Development Corp.
According to the agreement, the partners are hoping to sign up two data centers to establish operations on the site.
IS said the site management company has received “tentative interest to invest over P1 billion subject to contract from various investors and operators.”
IDC has also obtained a commitment from Clark Electric Distribution Corp. to service the data centers’ electricity requirements via a 69-kilovolt sub-transmission line. — Sheldeen Joy Talavera