Enemalta plc and Streamcast Technologies have signed an agreement to invest up to €75 million in the global data centre market, starting with the development of a secure data hub in an underground installation at Marsa.

Streamcast will develop a Tier 4 Data Centre, exploiting the sites’ inherent structural stability and security coupled with round-the-clock stable and low temperature conditions.

This investment will help Enemalta maximise the potential of its extensive underground infrastructure and international fibre optic connectivity.

Fredrick Azzopardi, Enemalta plc executive chairman, and Nimish Pandya, chairman, Streamcast Technologies, signed a memorandum of understanding to launch this investment on Monday after several weeks of discussions, with the support of Malta Enterprise.

By the end of the year, Enemalta plc will complete the infrastructural preparations for this development. Streamcast ICT network engineers and technicians will soon be in Malta to coordinate the project with the support of Enemalta’s business development team.

Following this initial pilot project, the agreement between the two companies also provides for knowledge-sharing and further studies with a view to extending this investment.

Streamcast Technologies Inc. is a leading private IP cloud operator, leveraging its globally patented technology to deliver next generation jitter-free, high-definition streaming services over ultra-low bandwidth. It currently powers wired and wireless operators to deliver on-demand video streaming, live events, VOIP and video chat to over 33 million users across India, South East Asia and MENA.

“Today’s agreement will not be the last collaboration of its kind by Enemalta. Our business development team is in talks with several other local and international companies to continue diversifying our portfolio, not only in the global data centre market, but in other new sectors as well,” Ing. Azzopardi said.