Singapore's CapitaLand India Trust (CLINT) on Friday said it has secured a five-year construction loan of 13 billion rupees ($155.9 million) to finance the development of its data centre in the Indian city of Navi Mumbai.
The loan facility, which has been secured from JP Morgan India, will be used for the phase 1 development of the data centre, the company said in a statement.
Once completed, the unit will have a power capacity of 108 megawatt, and will be used to service global technology giants, cloud service providers, and large domestic enterprise clients.
"Securing this onshore loan in India would diversify our funding sources and help us to optimise our funding costs." said Sanjeev Dasgupta, CEO of CLINT.
Construction has commenced and is scheduled for completion by mid-2025, CLINT said.
Besides the data centre in Navi Mumbai, CLINT currently has three other data centres under development in the country.