Redmond’s Microsoft plans $1 billion data centre venture in Greece

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Redmond’s Microsoft plans $1 billion data centre venture in Greece

Microsoft Corp., the Redmond, Washington-based American multinational tech conglomerate that shifted its focus to a high-profit margin data centre business alongside cloud computing services roughly half a decade ago, made an announcement on Monday saying that the American software giant had been exploring an option to construct three data centres in greater Athens, proffering a much-required foreign investment worth of $1 billion to an ailing Greek economy which had been in a recession territory even before the onset of the global-scale pandemic outbreak.

In point of fact, the US tech behemoth Microsoft Corp. alongside the Greek Prime Minister Mitsotakis had been quoted saying in a joint statement that American tech titan would be investing a $1 billion in a bid to build three data centres in the once-booming eurozone country.

Aside from that, latest announcement of a $1 billion accord between the US tech mammoth and the Greek Government came against the backdrop of nine months of confidential negotiation, while under the terms of the deal, the Microsoft would also provide digital-skills training program to a lump-sum of 100,000 Government and private employees alongside students and mentors.

Microsoft’s moves to invest $1bn in the crisis-hit Greek economy

In tandem, the Microsoft deal to build three data centres in greater Athens followed a multi-year financial crisis in the Greek economy, while the pandemic had added to further strains, eventually leading to a 15.2 per cent contraction over the second quarter of the year and an uptick in unemployment rate to 18.3 per cent from a reading of 16.4 per cent registered at the beginning of the year.

Meanwhile, addressing to a solid optimism over the US tech tycoon’s latest move to invest as many as $1 billion in a beleaguered Greek economy, speaking at a ceremony held in the Acropolis Museum facing the outskirts of the ancient sites in Central Athens, Microsoft President Brad Smith said following the announcement, “This significant investment is a reflection of our confidence in the Greek economy, in the Greek people and the Greek government. It’s not something we do often and it’s not something that we do lightly”.