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CapitaLand Investment Limited (CLI), a global real asset manager, has signed a Memorandum of Understanding (MoU) with the Maharashtra Government, indicating its plans to invest over Rs 19,200 crore (USD 2.83 billion) by 2030 to drive its growth in Mumbai and Pune.
The announcement was made at the launch of CLI's first data centre in India, located in Navi Mumbai. Maharashtra Chief Minister Devendra Fadnavis, Singapore's Deputy Prime Minister Gan Kim Yong were among those present. Manohar Khiatani, Chairman, CapitaLand India Trust (CLINT), CLI partners and staff also attended the event. A release said CLI's presence in Maharashtra commenced in 2013 with the launch of International Tech Park Pune, Hinjawadi (ITPP-H), developed in partnership with the Maharashtra Industrial Development Corporation (MIDC). Over the past decade, CLI has significantly expanded its footprint in Mumbai and Pune, investing over Rs 6,800 crore (S$1 billion) across 10 assets spanning business parks, data centres and logistics facilities. The planned investments in Maharashtra are an integral part of CLI's broader growth strategy for India, where the company aims to increase its funds under management from over USD 8 billion to some USD 15 billion by 2028, the release said. They will be across business parks, data centres, logistics and industrial parks, demonstrating CLI's confidence in Maharashtra's emergence as a hub for innovation, services, digital infrastructure, manufacturing and logistics, it said. Sanjeev Dasgupta, CEO, CLI India, said: "India is a core market for CLI, and Maharashtra,with its strong economic fundamentals and well-developed IT and industrial ecosystem, it presents significant opportunities for us to grow our footprint. The state has been a steadfast partner in our growth journey over the past decade, and we value the strong support and collaboration. We will continue to scale our investments in Maharashtra through our listed trust, CLINT; our private funds; and the Ascendas-Firstspace platform. We look forward to strengthening our partnership and contributing further to Maharashtra's commercial and industrial growth." With its presence in India of over three decades, CLI is uniquely positioned to serve as anintegrated real asset manager, developer and operator, combining global expertise with stronglocal partnerships to deliver high-quality, sustainable projects, the release said. CLI has five operational business parks in Maharashtra with a total leasable area of 9.7 million sq ft and plans to add another 4.5 million sq ft, further strengthening its presence in the state's key commercial hubs. As part of its data centre growth strategy in India, CLINT has four data centres in the key cities of Mumbai, Bangalore, Chennai and Hyderabad with a total power capacity of 244 megawatts (MW) to meet the rising demand for digital infrastructure. (ANI)
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