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Fri, Oct 11, 2024 | Rabi al-Thani 8, 1446 | DXB
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UAE-based firm to invest Dh3.67 billion in a series of data centre projects in Thailand
This investment aims to address the growing demands for advanced AI technology and enhanced data processing capabilities
UAE-based Edgnex Data Centers, a global digital infrastructure provider owned by Dubai's Damac Group, is set to invest over 32 billion Baht ($1 billion; Dh3.67 billion) in a series of data centre projects in Thailand.
This investment aims to address the growing demands for advanced AI technology and enhanced data processing capabilities. This also mark's Edgnex second significant investment in Thailand's digital infrastructure.
Recently, the company announced a joint venture with Poren Corp Public Company Limited, a prominent listed player in Thailand’s market. This strategic partnership not only expands Edgnex’s presence in Thailand but also demonstrates its commitment to fostering digital transformation in the Southeast Asia (SEA) region. Under the joint venture, Edgnex will hold a 70 per cent stake and will manage the data centre operations.
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The joint venture will feature a state-of-the-art data centre project with a total potential capacity of 20 MW. The first phase, which will provide 5 MW, is set to begin operations in early 2025. This facility will be carrier-neutral and certified with Tier III uptime, ensuring world-class reliability and resilience for its clients. The joint venture aims to finalise and start its operations within this year.
Prasert Chantararuangthong, Deputy Prime Minister and Minister of Digital Economy and Society, emphasised the investment's impact, stating, “This investment will significantly enhance Thailand’s data processing capabilities, aligning with the growing trends in the digital industry and attracting investors from around the world. Furthermore, it will create valuable opportunities for Thai professionals seeking to advance in the digital business sector.”
Hussain Sajwani, founder of Damac Group, expressed excitement about expanding into Southeast Asia, particularly Thailand, which he sees as a country with great potential for growth in digital innovation and smart technologies. “We aim to support Thailand’s evolving digital economy and provide the infrastructure necessary for the next generation of AI-driven businesses. With this announcement, we are making a substantial commitment to the Thai market, with plans for approximately 100 MW of future data centre capacity,” he added.
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