CapitaLand India Trust (CLINT) on Friday said it has raised Rs 1,300 crore debt to construct its data centre in Navi Mumbai.
The company, in a statement, said it has "secured a five-year construction loan of Rs 13 billion from JP Morgan India to finance phase 1 development of its data centre in Navi Mumbai".
The construction of the data centre has commenced and is scheduled for completion by mid-2025.
The data centre will have a power capacity of 108 MW to service global technology giants, cloud service providers and large domestic enterprise clients.
Besides its data centre in Navi Mumbai, the company has three other data centres under development in India.
"Securing this onshore loan in India would diversify our funding sources and help us to optimise our funding costs," said Sanjeev Dasgupta, Chief Executive Officer of CapitaLand India Trust (the trustee-manager of CLINT).
CLINT's portfolio includes nine world-class IT business parks, one logistics park, one industrial facility and four data centre developments in India, with a total completed floor area of 19.2 million square feet spread across Bengaluru, Chennai, Hyderabad, Pune, and Mumbai.