Singapore Based CapitaLand Investment to Invest INR 4500 Cr in Tamil Nadu

CapitaLand's Strategic MoUs with Tamil Nadu

On January 9, CapitaLand Investment Ltd, a Singapore-based entity, entered into three crucial MoUs with the Tamil Nadu government. This ambitious move is set to channel over Rs 4,500 crore into the state over the upcoming five years.

Threefold Development Plan

The company's plan includes significant developments across various sectors. The International Tech Park Chennai in Radial Road is poised to see an investment of around Rs 1,000 crore.

Additionally, there's a plan to invest over Rs 1,500 crore in a data centre at Ambattur, and the logistics portfolio in Chennai will witness a boost through Ascendas First Space with an investment of Rs 1,150 crore.

Expanding CapitaLand's Business Park Footprint

The company elaborated on the expansion of ITPC Radial Road. The proposed business park, spanning five million square feet, is set to feature four Grade A office blocks. These blocks are designed to accommodate over 50,000 IT service professionals. The ongoing development of Phase 2, Tower 3, and Tower 4 is expected to commence operations by the second quarter of CY2024.

Ambattur's Data Centre Development

CapitaLand India Trust (CLINT) recently acquired a 4.01-acre site in Ambattur, Chennai, earmarking it for its third data centre in India. The investment for this project is estimated to be around Rs 1,940 crore, covering the site acquisition and phased development over the next four to five years. The completion of the data centre is targeted for the end of 2025.

Enhancing Logistics Infrastructure in Chennai

Ascendas-Firstspace's role in Chennai's logistics and industrial facilities is set to expand. The company's facilities in Oragadam and Periyapalyam are undergoing developments, with additional land acquisitions and a projected investment of Rs 1,000 crore over the next five years.

Future Expansion Plans

The company disclosed its plans to deploy approximately Rs 4,500 crore in the coming six to seven years. This investment aims to expand its presence in business and industrial logistics parks across India. Moreover, CapitaLand is exploring opportunities in tier-2 cities such as Lucknow, Coimbatore, Guwahati, Bhubaneswar, and Kolkata, and is considering entering new business areas like renewable energy and credit financing.