Blackstone-backed AirTrunk to invest $21 billion in India data centre project

Australia's AirTrunk has signed a letter of intent for a land allotment in Maharashtra, according to a post on X by the state's chief minister. The company plans to invest $21.05 billion in a new data center project in the western Indian state.

The facility will be located in the Raigad-Pen Growth Centre on the outskirts of Mumbai, India's financial capital, and is expected to have a capacity of 3GW. AirTrunk is backed by US-based investment firm Blackstone.

India is rapidly emerging as a major hub for data center and AI infrastructure investments, aided by tax incentives for foreign firms operating domestic data centers. More than $630 billion in investments from US technology companies is expected this year.

Meanwhile, India's largest conglomerates are also ramping up their ambitions in the sector. Reliance Industries and the Adani Group have committed approximately $110 billion and $100 billion, respectively, toward AI and digital infrastructure projects.

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AirTrunk already operates data centers across Hong Kong, Japan, Malaysia, and Singapore.