CapitaLand India Trust (CLINT), a part of CapitaLand Group, has successfully secured a Rs 1,300 crore ($155.9 million) construction loan for their upcoming data centre in Navi Mumbai, India. J.P. Morgan India facilitated this funding, intended for the initial phase of construction, aiming to equip the centre with a robust 108MW power capacity upon completion.
Construction at the site has already begun and is slated for completion by mid-2025. Sanjeev Dasgupta, CEO of CLINT, expressed how securing this local loan in India would diversify their funding sources and optimize their funding costs.
Wai Mei Hong, senior country officer and head of corporate banking for J.P. Morgan Singapore emphasized their commitment to supporting CLINT’s long-term growth strategies and praised the project for contributing to India’s digital economy transformation. CapitaLand initially announced this Navi Mumbai facility in July 2021, originally aiming for service readiness by 2024, providing a total capacity of 90 MW upon completion.
According to CapitaLand’s fact sheet, the data centre will encompass 24 data halls and will include a 220kV GIS on-premise substation. This Navi Mumbai venture marks CapitaLand’s first foray into the Indian market, alongside their ongoing developments in Bangalore, Chennai, and Hyderabad, where construction has commenced.
