In March, Springfield Land Corporation announced a joint venture partnership with leading banker, Suncorp.
The $200 million Polaris Data Center will act as the primary data center for the company's banking operations and will also involve Suncorp acting as project financier and a major tenant, alongside NEC.
Suncorp will utilize the Springfield Dark Fibre Network to connect the Polaris to its existing facilites in the Brisbane CBD.
Work on the data center was scheduled to have begun at the beginning of April and is due for completion by 2008.
Suncorp chief executive John Mulcahy said the Polaris Data Center represented the largest private investment in Queensland's ICT industry. "This project highlights the ability of Suncorp's business banking property finance team to develop and finance major projects and will substantially enhance our IT storage and security capabilities.
"We believe our investment in the data center will generate healthy returns for shareholders over the medium to long-term."