CAPITALAND India Trust (Clint) has secured a five-year construction loan of 13 billion Indian rupees (S$214 million) from JP Morgan India to finance the first phase of its data centre development in Navi Mumbai.

“Securing this onshore loan in India reflects Clint’s disciplined capital management through a diversification of its funding sources,” the trust’s manager said in a bourse filing on Friday (Nov 10).

The data centre’s construction has begun, and is scheduled to be completed by mid-2025 with a power capacity of 108 MW. It aims to develop the data centre for global tech players, cloud service providers and large domestic enterprise clients.

The development is one of four other data centres that Clint has under development in India.

Clint units closed flat at S$1.03 on Friday, before the announcement was made.