Realty company Lodha Developers Ltd has finalized a preliminary agreement with the Maharashtra government for an extra Rs.1 trillion investment to establish a data centre park.

Four months ago, the company inked a memorandum of understanding (MoU) worth Rs.30,000 crore with the state government to build a data centre.

In a regulatory announcement on Tuesday, the firm stated it has pledged an additional Rs. 1 trillion.
On January 19, Abhishek Lodha, MD and CEO of Lodha Developers, signed an MoU with the Maharashtra government during the World Economic Forum in Davos.

The total commitment has now increased to Rs.1.3 trillion with the extra Rs.1 trillion. "Lodha Developers stated that with a total investment of Rs.1.3 trillion in around 2.5 gigawatt data centre park, it is expected to be the largest in the nation."

In September of the previous year, Lodha Developers entered into an agreement worth Rs.30,000 crore with the Maharashtra government to establish a data centre in accordance with the government’s Green Integrated Data Centre Park initiative.

The most recent agreement of an additional Rs.1 trillion will strengthen the group's dedication to the development of Maharashtra.

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"The data center facility, with a total investment of Rs.1.3 trillion, will generate more than 16,000 direct and indirect employment opportunities," the company stated.

The park, having a capacity of around 2.5 gigawatts, will host various significant international and local participants.

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Amazon has secured a land parcel for its data center and arranged its power needs for the upcoming 15 years.

STT Global Data Centres, based in Singapore, has purchased a plot of land in the park.

Lodha Developers will take on the role of developer for multiple entities interested in establishing data centres.

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"In addition to the Rs.30,000 crore commitment made last year for the data centre park, we have entered into another agreement with the Maharashtra government to invest an extra Rs.1 trillion. Under the leadership of Devendra Fadnavis, the Chief Minister of Maharashtra, the state has achieved new heights," stated Abhishek Lodha.