CapitaLand Invests Big: Rs 4500 Crore Boost for Tamil Nadu's Growth

CapitaLand Investment India has recently formalized three significant Memoranda of Understanding (MoUs) with the Tamil Nadu government, committing to invest more than SGD 750 million (approximately Rs 4500 crore) over the next five years. These agreements outline CapitaLand Investment's strategic initiatives in various asset classes, encompassing the development of business parks, data centers, and logistics facilities within the state.

The key projects outlined in the MoUs include the Radial Road business parks under the name ITPC, the development of a state-of-the-art data center in Ambattur, and an extensive expansion of the logistics portfolio in Chennai through Ascendas First Space. As of now, CapitaLand Investment (CLI) has already infused about SGD 800 million (approximately Rs 5000 crore) into Chennai, reflecting its commitment to the region.

CLI's existing portfolio in the city boasts notable ventures such as the International Tech Park Chennai - Taramani, a collaborative effort with TIDCO, along with the International Tech Park Chennai - Radial Road and CyberVale. Furthermore, the company holds two industrial facilities in Mahindra World City under CapitaLand India Trust, and oversees two logistics and warehouse facilities situated at Oragadam and Periyapalayam through Ascendas. This strategic investment underscores CLI's dedication to fostering economic growth and development in Tamil Nadu.

News by Rahul Yelligetti