Kyriakos Mitsotakis: Many well-paying jobs thanks to the digital transition

A vote of confidence in the great effort that—as he said—our country is making to be at the forefront of digital transformation "of its economy," the prime minister said, Kyriakos Mitsotakis its new investment Lamda Hellix in Koropi, at the ceremony marking the start of construction of the new data center.

«We are very pleased when major foreign companies choose to invest in Greece. Digital Realty is not the only one to have done so. However, this, too, is a vote of confidence in the overall momentum of the Greek economy, but it is also a vote of confidence in the great effort our country is making to be at the forefront of the digital transformation of its economy,» said the prime minister, adding:

«And indeed, in this area, we have already accomplished some very significant things in providing services to citizens and businesses. I am particularly pleased every time a Greek citizen or business owner recognizes how many man-hours they have saved because they can now handle basic services from their computer or from their cell phone, instead of rushing to a government office.».

The prime minister looked back on the recent past and noted that the Athens 2 Data Center essentially began operations in mid-2015, just a few days before capital controls were imposed. «And today, in 2021, we are here to lay the foundation for a much larger data center, Athens 3. We hope that Athens 4 will follow very soon. ’I’d like you to reflect with me on how much Greece has changed in the six years that have passed since the second data center began operations until today, when we are here for this very important new investment by the company,» said Mr. Mitsotakis.

The prime minister added that our country today is open to foreign investors, with a stable tax system and an investment environment that attracts foreign investment.

«A country that is well on its way, thanks to the initiatives of the Ministry of Digital Governance, our major digital transformation is well underway, so that we are now in a position to attract such investments and become a country capable of welcoming infrastructure investments for the new digitaldigital economy,» Mr. Mitsotakis emphasized.

Digital Transformation: A Fundamental Pillar

The prime minister described the digital transition as a fundamental pillar of his government’s policy, and that reason, he said, significant resources are being channeled from the Recovery Fund into numerous digital transition initiatives, many of which also relate to digital infrastructure.

At the same time, he focused on the new jobs that will be created and noted: «We’re talking about many well-paying jobs in the digital economy ecosystem. With more and more of these investments, employment prospects for young Greeks are improving, and new paths are opening up for young people who left Greece over the past 10 years, in search of a better future abroad, and I believe that you, too, in your own way, will do your part so that the country can once again attract this talent from abroad by offering many well-paid jobs with good career prospects, in your own company as well.».

The Prime Minister was given a tour of the new facilities by Apostolos Kakos, President and CEO of Lamda Hellix; Gregory Wright, Chief Investment Officer of Digital Realty; and company executives. At the same time, he spoke with executives and technicians who were in the UPS Room, the Technical Operations Center, and the operational areas.

This was followed by a groundbreaking ceremony attended by the Minister of Development and Investment, Adonis Georgiadis, the Minister of Digital Governance, Kyriakos Pierrakakis, and the Deputy Minister of the Interior, responsible for Local Government, Stelios Petsas, and the Deputy Minister of Development and Investment, responsible for Public Investments and the Partnership Pact for the Development Framework, Yiannis Tsakiris.

«A historic day for the business community»

«I would like to thank Prime Minister Kyriakos Mitsotakis and his ministers for their cooperation. This is a historic day for Greece’s business community. Some of Europe’s most innovative data center projects are already being implemented in the country. Today we are laying the groundwork for promoting Greece as a key investment hub in the region. »Greece is a great country, and its future looks bright,” noted Digital Realty CEO William Stein, among other things, in his opening remarks.

Digital Realty’s Chief Investment Officer, Gregory Wright, noted: «Athens is a city that is now emerging as a connectivity hub. A crossroads to Europe, Africa, Asia, and the Middle East. Looking ahead to 2022 and beyond, we look forward to collaborating with Lamda Hellix and the Greek government to further strengthen our commitment to our customers and the Greek people. As part of this commitment, I am announcing today that Digital Realty will donate 100 million to organizations and initiatives that will support relief efforts following the wildfires that broke out in the country thissummer.».

Apostolos Kakos, Chairman and CEO of Lamda Hellix, stated, among other things: «I am pleased because Athens 3 will not simply be a new data center; it is the largest data center in Greece, part of the largest hub in southeastern Europe, and it is how we are making a positive impact by accelerating Greece’s digital transformation and putting Greece on the map,» he emphasized.

What is Digital Realty?

The company employs 60 people, and that number is expected to double soon. Digital Realty supports world-class enterprises and service providers by offering a comprehensive range of data center, colocation, and interconnection solutions. It is the largest and most interconnected carrier-neutral provider of multi-tenant data center services in Greece and Southeast Europe. Digital Realty has already made—and is planning—significant investments in Greece, with the goal of establishing Greece, through Lamda Hellix, the counterpart to its investments in Marseille, so that it can better serve its local customers as well as its international customers who do not yet have a presence in Greece.

At the same time, it aims—through the creation of “Data Gravity” in our country—to attract a significant number of international submarine fiber-optic cables and international telecommunications providers, thereby increasing the availability, speed, and quality of telecommunications services in our country, while at the same time enabling the countries of the Balkans and Central and Eastern Europe to be better served via Greece.

The acquisition of Lamda Hellix is the largest acquisition of a technology and IT company in Greece and one of the largest acquisitions of a Greek company across all economic sectors. Athens 3, located within the data center campus in Koropi, will be the largest data center in the country. It will have a capacity of 6.8 MW—greater than the combined capacity of all currently operating data centers in Greece—and will be able to house over 50,000 servers. This investment exceeds 70 million euros and will be completed by the end of 2022. At the same time, the company is submitting plans for the approval of building permits for Athens 4, located within the data center campus, which is an additional data center with the same capacity (6.8 MW) as Athens 3, with the investment amount being the same as for Athens 3.

The company is exploring the design and construction of additional data centers, both in Attica and in Northern and Southern Greece. According to a study by the international research firm IDG, the added value generated by every euro invested in multitenant data centers exceeds 8 euros. Consequently, the added value from new investments in Athens 3 and Athens 4 alone will significantly exceed 1 billion euros.

The Prime Minister's remarks, in full:

«Let me begin by taking my cue—my starting point—from something that Mr. Kakos, CEO of Lamda Hellix, said in his very interesting presentation. He reminded us that Data Center Athens 2, which we visited a short while ago, essentially began operations in mid-2015, just a few days before capital controls were imposed. And today, in 2021, we are here to lay the foundation for a much larger data center, Athens 3. We hope that Athens 4 will follow very soon. I’d like you to reflect with me on how much Greece has changed in the six years that have passed since the second data center began operations until today, when we are here for this very important new investment by the company.

Greece today is, first and foremost, a country that is open to foreign investors, with a stable tax system and an investment environment that attracts foreign investment. A country that, thanks to the initiatives of the Ministry of Digital Governance, has firmly set in motion our major digital transformation, so that we are now in a position to attract such investments and become a country capable of welcoming infrastructure investments for the new digital economy.

We are, also a country where a major foreign company like Digital Realty has no trouble coming in and making a significant acquisition of a Greek company that had been at the forefront of this digital transformation, perhaps recognizing, before many others, the need for what you called neutral infrastructure capable of hosting data from many different companies with absolute security without any disruption to your operations, as I understand it, not even for a single minute during the 18 years you’ve been in business.

And, yes, we are very pleased when major foreign companies choose to invest in Greece. Digital Realty isn’t the only one to have done so. But this, too, is a vote of confidence in the overall momentum of the Greek economy, but it’s also a vote of confidence in the great effort our country is making to be at the forefront of the digital transformation of its economy.

And, indeed, in this area we have already achieved very significant results in providing services to citizens and businesses. And I am particularly pleased every time a Greek citizen or business owner recognizes how many man-hours they’ve saved because they can now handle basic services from their computer or from their cell phone, instead of having to rush to a government office.

And this entire effort, which is being carried out through gov.gr, is only just beginning; it will continue, it will accelerate, and we will always be able to provide citizens with the services they deserve, with absolute security, but without inconveniencing them by requiring their physical presence in situations where it is clear that it is no longer necessary.

I am also particularly pleased that our country, in addition to being a service provider, is also directing investments toward essential infrastructure. As you said, data centers are the highways, airports, and—if you will—water supply networks of the digital economy. It is extremely important that major international investors in these sectors now recognize our country’s unique geostrategic position, and I think it’s worth taking a look at the map—I think you did a great job with it—to see that there is a tremendous opportunity here. I, too, was impressed when I learned about the rapid growth of Marseille as a hub for data reception and, of course, the creation of the corresponding digital infrastructure. And you provided the figures: investments in 12 data centers in Marseille, 169 cloud computing service providers, but most importantly, 21 undersea cables that ultimately terminate in Marseille and also contribute to the development of this highly dynamic ecosystem.

And, together with the relevant ministers, we hope the same will happen in our country. There is absolutely no reason why these new data cables should not terminate in Greece—in Athens, or possibly at other locations throughout the country. We could serve as the natural gateway for data from the Middle East, Asia, and Africa, and we are moving vigorously in that direction.

So, we’re only just getting started. And, of course, the biggest beneficiaries of this investment are large organizations, the government—which now has a policy of moving its own vast amounts of data to the cloud—everyone benefits when such services are rolled out.

I believe, however, that this profit will ultimately trickle down to every citizen, to every individual business—whether large corporations or smaller enterprises—which will also seek the economies of scale and security that data centers provide. When used correctly, digitization increases everyone’s wealth and improves everyone’s daily life. As you rightly pointed out, this is something that became evident during the pandemic and is being demonstrated across all areas of our public sector operations. And that is why, for us, the digital transition remains a fundamental pillar of our policy, and that is why we are channeling significant resources from the Recovery Fund into numerous digital transition initiatives, many of which also relate to digital infrastructure.

I’ll conclude with a brief mention of the people—the many new jobs that such investments can create for our engineers, electrical engineers, mechanical engineers, and computer engineers. We’re talking about many well-paying jobs in the digital economy ecosystem; as more and more of these investments are made, the employment prospects for young Greeks are improving, new paths are opening up for young people who left Greece over the past 10 years in search of a better future abroad to return home, and I believe that you, too, in your own way, will do your part so that the country can once again attract this talent from abroad by offering many well-paid jobs with good career prospects, including within your own company.

I make no secret, therefore, of our government’s ambition, dear Ministers, for our country to evolve into a state-of-the-art data hub, and with your investment—which we are laying the groundwork for today—you are adding your own momentum to this great national effort.

I wholeheartedly wish you every success, and I hope we’ll meet here again when you open Athens 3 and Athens 4. Take care. All the best.».