NaBFID Extends Rs 2,000 crore Loan to Blackstone-backed Data Centre

Current Context: The National Bank for Financing Infrastructure and Development (NaBFID) extended a ₹2,000 crore loan to Gramercy Techpark Private Ltd, a Blackstone-backed company, on February 5, 2025.

• This loan is for the construction of a 120 megawatt (MW) data centre at Mahape in New Mumbai.
• Here are the key details:
• Loan Purpose: The loan is intended for the construction of a 120 MW data centre.
• Location: The data centre will be built at Mahape in New Mumbai.
• Construction Timeline: The construction is expected to start in mid-2025.
• Loan Type: It is a construction finance loan.
• Future Plans: NaBFID is looking to bring other lenders on board by offloading part of its exposure.

Question:

1 What is the primary purpose of the ₹2,000 crore loan extended by NaBFID to Gramercy Techpark Private Ltd?

• A) Expansion of telecom networks
• B) Construction of a 120 MW data centre
• C) Establishment of an IT training institute
• D) Development of an e-commerce platform

Answer: B) The loan has been provided specifically for the construction of a 120 MW data centre at Mahape in New Mumbai.