Update: Market Chatter: Range Intelligent Computing Seeks HK$20 Billion Loan for Hong Kong's Largest Computing Facility
(Updates headline with the HK$20 billion figure)Range Intelligent Computing Technology (SHE:300442) is negotiating with banks for approximately HK$20 billion in short-term financing to build Hong Kong's biggest data center in the northern New Territories, Bloomberg News reported on Friday, citing people familiar with the matter.The company's subsidiary won a bid in March to develop a 110,000 square-meter site into a data-center cluster, with total investment estimated at HK$23.8 billion over three years, the news wire said.The proposed facility would expand Hong Kong's computing capacity by 36 times and generate about HK$4.6 billion in economic output within its first three years, the publication said.The loan, which could be structured as a syndicated or bilateral deal, supports the broader Northern Metropolis development project, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)