A British-US company announced Friday that it would invest up to 3.5 billion euros to build a massive data centre in Portugal by 2025 in response to demand for trans-Atlantic connections.

The company — “start campus” — has chosen a site in the port of Sines, southwestern Portugal, near a decommissioned coal power plant, and will “have a net zero carbon footprint”, a statement said.

Start campus is a joint venture of US investment firm Davidson Kempner Capital Management and Pioneer Point Partners of Britain.

“Sines 4.0”, as the project has been dubbed, “will be one of the largest data centre campus projects in Europe and will address the exploding demand of large international technology companies,” the statement said.

The firms’ previous projects include a similar but smaller data centre in Ireland and a biomethane energy plant in Denmark.

Sines 4.0 is to use existing infrastructure such as power lines and cooling systems that use readily available sea water.

The location also provides access to trans-Atlantic fibre-optic cables and would “contribute to Portugal’s revival as a key player in the international data and connectivity scene,” the statement said.

The campus is to consist of five buildings that house data servers with total power consumption of 450 megawatts, to be provided by renewable sources, the company said.

The project is expected to create up to 1,200 highly-qualified jobs.

“Data has been identified as the new ‘oil’ of the digital economy, and Portugal will benefit from this large investment in Sines that will place the country at the core of transatlantic and global data network,” said Sam Abboud of Pioneer Point Partners.

Honda Motor Co (7267.T) is aiming to increase its ratio of electric vehicles (EVs) and fuel cell vehicles (FCVs) to 100% of all sales by 2040, chief executive Toshihiro Mibe said on Friday.

Speaking at his first news conference since taking the helm of Japan’s second-largest automaker at the beginning of April, Mibe said the company supported the government’s green goals.

“I believe it is the responsibility of an automaker to achieve our carbon-free goal on a ‘tank-to-wheel’ basis,” Mibe said.

The company expects EVs and FCVs to account for 40% of sales by 2030 and 80% by 2035 in all major markets, including North America and China.

Honda’s announcement of its electrification strategy comes after Prime Minister Yoshihide Suga vowed Japan would aim for a 46% cut in emissions by 2030 and look for ways to go even further, nearly doubling from its previous target.

Turkey detained dozens of people in an investigation of a cryptocurrency trading platform and sought its founder’s arrest in Albania, police said on Friday, after Turks filed criminal complaints saying they had been scammed.

The Thodex platform, which had been handling daily cryptocurrency trade worth hundreds of millions of dollars, said on its website on Thursday it would be closed for four to five days due to a sale process.

But users who have not been able to withdraw money or access their accounts voiced concern on Twitter that they may have been defrauded, comments widely picked up by Turkish media.

Police launched raids at 6 a.m. (0300 GMT) across eight provinces on Friday with warrants to arrest 78 suspects, Istanbul police said in a statement. A day earlier they searched the company’s Istanbul offices and seized materials.

Sixty-two people have been detained so far, the state-owned news agency Anadolu reported.

Istanbul police said the company’s founder and CEO, Faruk Fatih Ozer, had flown to the Albanian capital Tirana on Tuesday.

Interpol issued a red notice for Ozer on Friday after a request by Ankara. Turkey’s interior minister and police chief spoke with their Albanian counterparts on Thursday to seek Ozer’s arrest, Turkish police headquarters said.

An Istanbul prosecutor’s office on Thursday said it began an investigation into Thodex amid claims that the platform had led to the “aggrievedness of many citizens”. Turkey’s financial crimes investigation board MASAK blocked the company’s accounts on Wednesday and began an investigation, a MASAK source said.

Thodex said “negative” media reports about it were untrue, and that banks and funds – which it would identify later – wanted to invest in the company and had proposed a partnership.

The 24-hour trading volume on Thodex was $538 million on its last trading day, according to Coinmarketcap.

Last week, Turkey banned the use of crypto assets for payments, adding to factors that sent bitcoin down 14% at the weekend. Turkey’s central bank cited “irreparable” damage and transaction risks as reasons for the ban.