CapitaLand Investment India has signed three memoranda of understanding (MoUs) with the Tamil Nadu government to invest over SGD 750 million (approx. Rs 4500 crore) in the next five years. Through the MoUs, CLI will develop across asset classes covering business parks, data centres and logistics in the state.

The projects include ITPC - Radial Road business parks, data centre development at Ambattur and logistics portfolio expansion in Chennai through Ascendas First Space. To date, CapitaLand Investment (CLI) has invested about SGD 800 million (approx.Rs 5000 crore) in Chennai.

CLI’s current portfolio in the city includes International Tech Park Chennai - Taramani, which is a joint venture with TIDCO, International Tech Park Chennai - Radial Road and CyberVale. The firm has also has two industrial facilities in Mahindra World City held under CapitaLand India Trust, two logistics and warehouse facilities at Oragadam and Periyapalayam managed by Ascendas.