Digital infrastructure firm Constl has secured approximately $90 million in long-term project financing from a consortium of lenders led by the National Bank for Financing Infrastructure and Development (NaBFID). According to the latest company statement, the financing will support the rollout of greenfield fibre networks across emerging artificial intelligence corridors in India, as well as investments in next-generation network technologies. The company also plans to strengthen its ability to provide high-speed, low-latency connectivity to meet growing demand from AI infrastructure providers and cloud service providers.
The infrastructure is specifically aimed at meeting growing connectivity requirements from hyperscalers, AI infrastructure providers, and cloud service providers. As reported by Business Standard, Ankit Goel, chairman and founder of Space World Group and founder of Constl, emphasized that the emergence of new data centre hubs and the evolution of India's AI ecosystem were increasing the need for network infrastructure. Goel stated that "As India's AI ecosystem evolves and new data centre hubs emerge, the need for resilient, low-latency and future-ready networks has never been greater." He added that the financing would help the company accelerate the deployment of greenfield fibre infrastructure and continue investments in next-generation network technologies.
NaBFID highlighted the significant capital deployment needs for AI infrastructure development. According to Business Standard, Samuel Joseph Jebaraj, deputy managing director of NaBFID, noted that the development of AI infrastructure, including AI corridors, hyperscale data centres and digital connectivity networks, would require significant capital deployment. He stated that NaBFID aims to provide infrastructure financing solutions to support the growth and expansion of these emerging sectors. The bank emphasized its sectoral expertise and ability to appraise and lead complex infrastructure transactions would help support emerging projects including AI, data centres and related digital infrastructure.
The financing will support Constl's plans to expand its pan-India high-speed connectivity network and strengthen its digital infrastructure capabilities for customers across the AI, cloud, data centre, telecom and digital services ecosystem. As reported by Business Standard, Sharad Agarwal, head of Lending & Project Finance at NaBFID, stated that their financing support to Constl marks a significant step towards enabling the development of this ecosystem. Cadmus Capital served as the sole financial advisor to Space World in connection with the financing transaction.
