Billionaire Deripaska Plans $355 Million Data Center in Siberia

  • Putin's law requires IT firms to store data on local servers
  • Aluminum tycoon to use cheap hydropower to feed data center

Russian billionaire Oleg Deripaska.

Photographer: Chris Ratcliffe/Bloomberg

Billionaire Oleg Deripaska’s En+ Group and partners including Huawei Technologies Co. plan to invest more than $355 million to build a data center in Siberia, tapping the region’s cheap electricity and preparing for rising local storage demand.

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