NTT Global Data Centers & Cloud Infrastructure India Private Limited (NTT GDCI), an Indian subsidiary of Nippon Telegraph and Telephone Corporation (NTT) has secured a foreign loan of INR 10.2 Billion from the Japan Bank for International Cooperation (JBIC) along with INR 7 Billion from the co-financers namely Sumitomo Mitsui Banking Corporation and Mitsubishi UFJ Bank, Ltd. for NTT GDCI's data center construction and operation business in Maharashtra, India.
By financially supporting NTT's overseas business expansion, this loan will help improve the business environment for Japanese companies and strengthen the supply chain by ensuring reliable and secure communications infrastructure, while contributing to maintaining and improving the international competitiveness of Japanese industry.
In its medium-term management strategy published in May 2023, NTT announced a policy to invest more than 1.5 trillion yen over five years in its data center business to promote the expansion of its data center infrastructure, the third largest in the world. In addition, India's data center policy, "Data Center Policy 2020" sets out a vision to make the country a global data center hub. With data traffic expected to increase further due to the expansion of AI, e-commerce, social media, etc., the country's data center market is expected to expand, making it an important market for the NTT Group.
ILP advised JBIC on the Indian law aspects, led by a team of Partners Gopika Pant & Vineet Gupta and assisted by Associates Vinayek Mehra, Varun Pandey and Ayush Tiwari.
Ashurst Japan led by a team of Partner David Wadham, Senior Associate Akemi Kishimoto and Trainee Solicitor Tiegan Cormie acted for JBIC as international counsel.
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