Brazil’s colocation company ODATA is currently investing US$320 million in expanding its footprint across Latin America, with further capital expenditure (CAPEX) potentially to be unveiled before the end of the year.

BNaméricas reports that the brand is investing $200 million in Brazil, $50 million in Chile, a further $50 million in Mexico, and $20 million in Colombia.

In Chile, the investment is set to reach $217 million as further phases are built in Lampa, northwest of capital city Santiago.

In addition, the operator is expected to break into Peru where plans have been held back due to Peru’s everchanging macroeconomic landscape which recently culminated in leftist Pedro Castillo taking to the presidential office following elections that took place on April 11, 2021, but required a run-off in June.

However, ODATA’s CEO Ricardo Alário said the political situation in the country is unlikely to have any major influence in the company’s plans.

“Peru is a market we like a lot and should be the next one we go to,” Alário said.

In April, the company received a $30 million loan from the International Finance Corporation (IFC) to help fund its expansion in São Paulo and Rio de Janeiro.

ODATA’s main shareholder with 90% of the business’ stock is Brazilian private equity and asset management firm Pátria Investimentos (NASDAQ: PAX).

Pátria, which is formed under a partnership with American alternative investment management Blackstone (NYSE: BX), manages more than $14 billion in private equity, credit, real estate and infrastructure funds. The firm was valued at $2.3 billion in its IPO, and its market cap rose to $2.8 billion after the first trading day last January.

The other 10% of ODATA’s stock is currently owned by Texas-based data centre REIT CyrusOne (NASDAQ: CONE) which manages today a network of more than 50 data centres in North America, Europe and South America, the latter through ODATA.