(Yicai Global) August 13 -- China's Watone Cloud Data Technology will construct and operate a data center for tech giant Alibaba Group Holding, boosting the cloud computing firm's revenues up to CNY1.6 billion (USD224.3 million) over the period of 10 years. 

Watone's parent Insigma Technology inked a memorandum of cooperation with Alibaba regarding three data center modules, each amounting to CNY528 million in service fees over a decade, the Hangzhou-headquartered outsourcing firm said in a statement yesterday. The estimated construction period is 18 months. 

Watone is an important partner to Alibaba's unit Alibaba Cloud, according to its website. 

Editor: Emmi Laine