CapitaLand India Trust seeks to build data centers in Navi Mumbai by borrowing Rs 1,300 crore
obtaining a Rs 13 billion, five-year construction loan from JP Morgan India to fund the first phase of the building of its data center in Navi Mumbai," the company said in a statement.
CapitaLand India Trust seeks to build data centers in Navi Mumbai by borrowing Rs 1,300 crore.
In order to build its data center in Navi Mumbai, CapitaLand India Trust (CLINT) announced on November 10 that it has obtained Rs 1,300 crore in debt. "Securing a five-year construction loan of Rs 13 billion from JP Morgan India will pay for phase 1 development of its data center in Navi Mumbai," the business said in a statement.
Construction on the data center has started and is anticipated to be completed by mid-2025. The data center can accommodate cloud service providers, large local commercial clients, and international technology enterprises thanks to its 108 MW power capacity.
In addition to its data center in Navi Mumbai, the business is developing three other data centers in India. "We would be able to optimize our funding costs and diversify our funding sources by securing this onsite loan in India," said Sanjeev Dasgupta, CEO of CapitaLand India Trust, the trustee-manager of CLINT.
Nine top-notch IT business parks, one logistics park, one industrial building, and four data center projects with a combined finished floor area of 19.2 million square feet located in Bengaluru, Chennai, Hyderabad, Pune, and Mumbai make up CLINT's portfolio in India.
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