en.Wedoany.com Reported - The Government of Maharashtra, India, has signed a letter of intent with hyperscale data center operator AirTrunk, potentially leading to a data center investment agreement valued at up to INR 2 trillion (approximately USD 21 billion).

Maharashtra Chief Minister Devendra Fadnavis stated on social media that both parties have exchanged letters of intent regarding the allocation of land for this data center project at the Raigad Pen Growth Centre. The project involves an investment of up to INR 2 trillion and a designed capacity of 3 gigawatts. The Raigad Pen Growth Centre is a 1,217-acre smart city located in Pen Taluka, Raigad district of the state.

Founded in 2018, AirTrunk was acquired in 2024 by asset management firm Blackstone and the Canada Pension Plan Investment Board (CPPIB) for USD 16.1 billion. The company is relatively new to the Indian market, having entered it through the acquisition of Lumina CloudInfra, a data center developer with operations in India. Currently, AirTrunk operates or has data centers under development in Mumbai, Chennai, and Hyderabad, with its business also spanning Malaysia, Australia, Hong Kong, Japan, and Singapore.

The Indian data center market has recently seen active transactions. Diversified infrastructure company Anant Raj has signed a memorandum of understanding with the government of Haryana in northern India to invest in and develop a large-scale data center project in the state.

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