AirTrunk—the data center company founded by Australian billionaire Robin Khudaand backed by U.S. private equity firm Blackstone—will develop a three-gigawatt data center project in the western Indian state of Maharashtra, where it plans to invest 2 trillion rupees ($21 billion).

The project was announced by Maharashtra’s chief minister Devendra Fadnavis on X (formerly Twitter) after the two parties signed the letter of intent to buy the land for the project that will be located in Raigad, a district on the outskirts of........

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