CapitaLand India Trust to acquire Chennai site and develop its third data centre in India

SINGAPORE - Dec. 13, 2022 - PRLog -- CapitaLand India Trust Management Pte. Ltd., the Trustee-Manager of CapitaLand India Trust (CLINT), is acquiring a 4.01-acre freehold site in Ambattur, Chennai for INR832.8 million (approximately S$14.1 million) to develop its third data centre in India. CLINT will invest an estimated total amount of INR19.4 billion (approximately S$328.8 million) to acquire the site and develop a state-of-the-art data centre in phases over the next four to five years. The data centre will have a power capacity of 55 megawatts (MW) to host customers such as global technology giants and cloud service providers, as well as large domestic enterprise clients. The acquisition of the site is expected to be completed by December 2022. The data centre is scheduled to be completed by end-2025.

Mr Sanjeev Dasgupta, Chief Executive Officer of CLINT, said: "With this latest acquisition, CLINT will have a presence in India's key data centre markets – Navi Mumbai, Hyderabad and Chennai, and we are also planning to develop a fourth data centre in Bangalore. This will allow us to expand in the resilient and highly scalable data centre asset class, diversify our data centre portfolio geographically, and enable us to better serve our customers across the country. India's data consumption and demand for information technology (IT) solutions are fast expanding but the country has one of the world's lowest data centre densities. We will be developing a data centre in Navi Mumbai and another two data centres within our International Tech Parks in Bangalore and Hyderabad. Our data centres will further enhance the quality of CLINT's portfolio and deliver sustainable returns to unitholders."

Mr Patrick Boocock, CEO, Private Equity Alternative Assets, CapitaLand Investment (CLI), who also oversees the growth of CLI's global data centre business, said: "CLI has been seeing rising investor interest in the digital infrastructure sector and we are actively working on a pipeline of data centre deals across Asia. India is a particularly interesting market; in the last five years, US$14 billion has been invested in India's data centre sector, and the amount is expected to cross US$20 billion by 2025. CapitaLand's strong core competencies in data centre design, development and operations will enable us to seize opportunities in the country as we build our new economy portfolio globally."

For full release: https://bit.ly/CLINTChennai_Li