Paris-based Data4 said it plans to invest nearly 300 million euros (331 million dollars) to develop a new data center hub in Paiania, just outside the Greek capital Athens. Olivier Micheli, Data4's chief executive, said the company was currently in talks with existing lenders and local Greek banks to finance the project. Micheli said the new site would "make a significant contribution to the local economy and digital ecosystem". The company manages multiple data centers in six European countries, including Greece, with an expansion investment target of 7 billion euros by 2030. It has the capacity to develop two more centers at its upcoming Greek hub, with an additional investment of 200 million euros. However, Micheli said additional investments are still being negotiated with local governments.