It describes the planned investments of more than S$2.8 billion as an integral part of its wider growth strategy for the subcontinent

 

[SINGAPORE] CapitaLand Investment (CLI) will invest more than 192 billion rupees (S$2.8 billion) in Maharashtra by 2030, deepening its presence in the key Indian markets of Mumbai and Pune.

 

The commitment was unveiled on Tuesday (Aug 12) during the launch of CLI&rsquo s first data centre in India, located in Navi Mumbai.

 

In a statement, CLI described the planned investments as an &ldquo integral part&rdquo of its wider growth strategy for India. The company aims to expand its funds under management in the country from more than S$8 billion currently to around S$15 billion by 2028.

 

The investments will span business parks, data centres, logistics and industrial parks and is a sign of CLI&rsquo s confidence in Maharashtra&rsquo s potential as a hub for innovation, services, digital infrastructure, manufacturing and logistics.

 

On the same day, CLI signed a memorandum of understanding with the Maharashtra government to formalise the plans.

 

Sanjeev Dasgupta, chief executive officer of CLI India, said Maharashtra&rsquo s strong economic fundamentals and mature IT and industrial ecosystem offer &ldquo significant opportunities&rdquo for the group to expand.

 

&ldquo We will continue to scale our investments in Maharashtra through our listed trust, CapitaLand India Trust our private funds and the Ascendas-Firstspace platform,&rdquo Dasgupta said. &ldquo We look forward to strengthening our partnership with the state and contributing further to its commercial and industrial growth.&rdquo