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Lodha Developers expands data centre investments in Maharashtra, commits additional ₹1 lakh crore
Lodha Developers has committed an additional ₹1 lakh crore towards data centre development in Maharashtra, taking its total outlay to ₹1.3 lakh crore
Mumbai-based real estate major Lodha Developers has committed an additional ₹1 lakh crore to expand its data centre investments in Maharashtra, taking the total outlay to ₹1.3 lakh crore, the company said in a regulatory filing.
Four months after Lodha Developers Ltd signed a memorandum of understanding of ₹30,000 crores with Maharashtra government to develop a data centre in the state, it has committed to another ₹1 lakh crore, the company said.
On January 19, Abhishek Lodha, MD and CEO of Lodha, signed an MoU with the government of Maharashtra in the backdrop of World Economic Forum at Davos. With a total investment of ₹1.3 lakh crores in a data centre park of approximately 2.5 gigawatts, it is slated to be the largest in the country, the company said.
Also Read: Maharashtra govt, Lodha Developers sign ₹30,000-crore MoU to set up green data centre park near Mumbai
“Over and above the ₹30,000 crores commitment last year to develop the data centre park, we have signed another agreement with the Government of Maharashtra to invest an additional ₹1 lakh crore. The state has already scaled newer heights under the leadership of Devendra Fadnavis, Chief Minister of Maharashtra. His vision and actions directed towards developed Maharashtra give us immense confidence in committing to such a large investment,” Abhishek Lodha, MD and CEO of Lodha Developers Ltd, said.
In September last year, Lodha Developers signed an agreement with the Maharashtra government for ₹ 30,000 crores to develop a data centre under the government's Green Integrated Data Centre Park policy.
Also Read: Real estate is not just about tall buildings, but also data centres and Global Capacity Centres: BJP leader Smriti Irani
The latest agreement of another ₹1 lakh crore will bolster the group’s commitment to Maharashtra’s growth. The data centre park with a total investment of ₹1.3 lakh crores will create over 16,000 direct and indirect jobs. The park, with a capacity of approximately 2.5 gigawatts, will accommodate several major international and domestic players, the company said.
Amazon has already acquired a land parcel for its data centre and also made arrangements for its power requirements for the next 15 years. Singapore-based STT Global Data Centres has also acquired a land parcel in the park, the company said.
