Keppel Data Centre Fund II LP (KDCF II) has joined hands with Heying to co-develop a greenfield data centre in Greater Beijing, China. 

KDCF II is a private fund focused on making strategic investments in the fast-growing data centre sector in Asia Pacific and Europe. The Fund is managed by Alpha Investment Partners. The company will acquire a majority stake in Huailai Data Centre located in Huailai County, Hebei Province and jointly develop the property with Heying. 

The project is estimated to cost approximately RMB1.4 billion (US$207.27 million) and become operational by the end of Q1 2023.