CapitaLand India secures $155M to build data center

Singapore's CapitaLand India Trust (CLINT) has recently landed a substantial five-year construction loan to accelerate the development of its data center in Navi Mumbai, India.

• Loan Details: CLINT secured a five-year construction loan of 13B rupees (approximately $155.9M). The loan has been procured from J.P. Morgan India, demonstrating a strategic financial collaboration.

• Purpose of the Loan: This significant financial boost will facilitate the phase 1 development of CLINT's Navi Mumbai data center, propelling the project forward.

• Data Center Capabilities: Upon completion, the data center will flaunt a power capacity of 108 megawatts. It's set to become a vital hub for global technology giants, cloud service providers, and large domestic enterprise clients.

• Management Commentary: "Securing this onshore loan in India would diversify our funding sources and help us to optimize our funding costs." remarked Sanjeev Dasgupta, CEO of CLINT.

• Project Timeline: Construction is already underway, with the project slated for completion by mid-2025.

Besides the Navi Mumbai project, CLINT is also actively developing three other data centers across India, showing its strong commitment to supporting digital infrastructure in the country.