Tata Realty has secured a Rs 825 crore ($98.8 million) loan from the International Finance Corporation (IFC) to refinance its green commercial project, Ramanujan Intellion Park, in Tamil Nadu, India. The park is strategically located along Old Mahabalipuram Road (IT Expressway) in Taramani, Chennai (Tamil Nadu), and spans 25.27 acres, including both a Special Economic Zone (SEZ) processing area and a non-processing zone.
The company claims that the Ramanujan Intellion Park has completely reduced emissions through the use of renewable energy or carbon offsets and has attained over 42% energy savings on-site and more than 20% savings on water and embodied energy in materials.
Sanjay Dutt, Managing Director and CEO of Tata Realty highlighted the significance of the IFC loan, stating, “The financing from IFC is a strategic investment in advancing our efforts to enhance the sustainability and climate resilience of Ramanujan Intellion Park.”
The fully operational IT park hosts between 40,000 to 60,000 professionals daily across its six buildings. It also features the Taj Wellington Mews Hotel facility, offering 112 serviced apartments and a 1,500-seater convention center in the non-processing zone.
The funds will integrate state-of-the-art sustainable technologies and practices at Ramanujan Intellion Park, which has a total leasable area of about 4.67 million square feet of IT/ITES commercial office spaces.
