(Yicai Global) June 8 -- Shenzhen Zhongzhuang Construction Group will invest CNY1.5 billion (USD211.7 million) to build a large big data services center in the Greater Bay Area to boost its competitiveness and tap the opportunities for digital technologies in the region.

The project will be located in Foshan, Guangdong province and have as many as 10,000 standard internet data center racks , the Shenzhen-based company said in a statement issued at the weekend. When the project is up and running digital technology services will become the firm’s main business along with construction and decoration, it added.

The Guangdong-Hong Kong-Macao Greater Bay Area is among the most developed regions in China where technology firms are concentrated, including the headquarters of well-known tech giants such as Huawei Technologies and Tencent Holdings.

The new data center will be developed in two stages. First-phase delivery of 5,000 to 6,000 racks is set to finish in the last quarter of this year, while the second phase will deliver the remainder by the end of 2022.

When completed, the project will provide internet data center services to regional business and government clients, as well as value-added services such as network security protection, big data analysis, and integrated internet solutions, the firm added.

A wholly owned unit planned to invest CNY60 million for 60 percent of the project’s main developer, Guangdong Shunde BroWorld Electronic Technology, Shenzhen Zhongzhuang said at the end of May. Transfer procedures were still in progress as of June 7.

Shares of Shenzhen Zhongzhuang [SHE:002822] closed 1.4 percent higher today at CNY9.15 (USD1.29), after having surged more than 5 percent in morning trading.

Editor: Peter Thomas