XTX Markets plans a large-scale data centre in Kajaani to enhance its computational capabilities for the future. Credit: Caureem/Shutterstock.

Construction and development company YIT has entered a €100m ($104.24m) deal with XTX Markets to construct a new data centre in Kajaani, Finland.

The new facility, spanning an estimated 15,000m², will include a data hall building, an office building for staff, and a maintenance building, all located within the campus area.

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Algorithmic trading company XTX Markets utilises advanced machine learning technology to forecast prices for over 50,000 financial instruments. The entity’s decision to build its large-scale data centre in Kajaani is aimed at enhancing its computational capabilities for the future.

The project is scheduled to be recorded in YIT’s order book for the last quarter of 2024.

YIT Infrastructure segment executive vice president Aleksi Laine said: “We are delighted to sign this agreement and start this exciting data centre project in close cooperation with XTX Markets. This is the latest chapter of YIT’s strong experience of executing extensive industrial construction projects in Finland.

“Receiving a contract on a construction project of this scale from a large international firm is a testament to our project management capabilities as well as our leading technical expertise. Overall, an investment of this scale from XTX Markets is a substantial boost to the local region of Kajaani and is further evidence of Finland’s excellent offering as an investment destination for large-scale data centre projects.”

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Earlier this month, YIT secured a €105m project management contract with Hitachi Energy to construct a new production and technology centre in Mustasaari, Finland.

Last month, YIT was also chosen as a partner, alongside NRC Group, Sitowise, and Sweco, for the development phase of the Helsinki Urban Development and Tramway Programme Alliance.