Tata Realty raises 825cr loan from IFC for tech park

Chennai: Tata Realty and Infrastructure, a 100% subsidiary of Tata Sons, has raised Rs 825 crore loan from the International Finance Corporation (IFC) for refinancing of Ramanujan Intellion Park in Chennai. This is part of the company’s initiative in advancing sustainability and elevating the standard of green commercial space across the country.
The funds will further integrate sustainable technologies and practices at the flagship asset with a total leasable area of approximately 4.7 million sq ft of IT/ITES commercial office space, Tata Realty said in a statement here on Monday.The 25.3-acre park encompasses both a SEZ processing area and a non-processing zone. Also, the park includes a hotel facility.
Sanjay Dutt, MD & CEO of Tata Realty said, “The financing from IFC is a strategic investment in advancing our efforts to enhance the sustainability and climate resilience of the park.”
Imad N Fakhoury, IFC’s regional director for South Asia, said, “Business parks are key to greening the real estate sector and Ramanujan Intellion Park is at the forefront of this transformation. Our investment highlights the pivotal impact that climate-focused financing has in driving substantial environmental progress.”