Ascendas Reit (CapitaLand): Web Werks and CapitaLand sign MoUs to build data centers in Chennai, India

Jul 21, 2021 | Posted by Abdul-Rahman Oladimeji

Web Werks and CapitaLand have signed Memoranda of Understandings with the Tamil Nadu government in India to build data centers in Chennai. The MOU will see CapitaLand, a Singapore-based real estate firm, invest 1200 crore ($160.7 million) in a data center facility in Ambattur, west of Chennai. Web Werks will also be investing 700 crores ($93.7 million) in Siruseri/Ambattur.

Although none of these two companies have commented on the MOUs, the MOUs aren’t the only ones signed, as the Tamil Nadu government signed MOUs for 35 projects earlier in the week.