Kore Digital Secures MoU for AI Green Data Center Project in Navi Mumbai
Kore Digital Limited has executed a Memorandum of Understanding (MoU) marking Phase-I of its proposed massive AI Green Data Center project. This development initiative is set to establish a significant infrastructure presence in Navi Mumbai, Maharashtra.The agreement details the initial phase investment and operational scope of the sophisticated data center. Kore Digital Limited will serve as the execution and communication infrastructure partner for this undertaking.
The project details are summarized below:
| Feature | Details |
|---|---|
| Project Name | AI Green Data Center 1560 MW |
| Location | Navi Mumbai, Maharashtra |
| Phase I Investment | INR 5,000 Crore |
| Direct/Indirect Employment Generation | Approximately 2,100 persons |
The overall plan encompasses the development of this project in three phases. The aggregated planned capacity for the entire venture is approximately 1.56 GW. Subsequent phases are contingent upon the completion of definitive agreements, statutory approvals, financial closure, and meeting customary conditions.
Under the executed MoU, the Government of Maharashtra committed to facilitating the participating entities. This facilitation includes ensuring necessary permissions, registrations, clearances, fiscal incentives, and other requisite support from relevant State Government departments, adhering to existing policies and rules.
Kore Digital Limited is positioned as a key partner in this major infrastructural development, contributing substantially to the technological growth landscape in Maharashtra through the establishment of its specialized data center.
KDL Stock Price Movement
Kore Digital Limited shares gained in the post-market session today, edging up to an indicative close of ₹118.95 and marking a 4.98% rise. The stock traded on a volume of 32,250 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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