Singapore’s CapitaLand India Trust (CLINT) has secured a five-year construction loan of 13 billion rupees (US$156 million) from J.P. Morgan India to finance the development of the first phase of its data centre in Navi Mumbai.

The data centre, whose construction has started and is scheduled for completion by mid-2025, will have a power capacity of 108 megawatts to service global technology giants, cloud service providers, and large domestic enterprise clients.

Besides the Navi Mumbai facility, CLINT currently has three other data centres under development in India.

CLINT's data centre in Navi Mumbai, scheduled for completion by mid-2025, will have a power capacity of 108 megawatts. 

“CLINT remains disciplined in capital management. Securing this onshore loan in India would diversify our funding sources and help us to optimize our funding costs,” says Sanjeev Dasgupta, chief executive officer of CapitaLand India Trust, CLINT’s trustee-manager.

Wai Mei Hong, senior country officer and head of corporate banking for J.P. Morgan Singapore, says the financing of CLINT’s Navi Mumbai data centre reinforces the bank’s commitment to support the long-term growth strategies of its clients. “CLINT’s project also helps to pivot the transformation of the digital economy in India,” Hong adds.

Formerly known as Ascendas India Trust, CLINT was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in August 2007 as the first Indian property trust in Asia.