UAE firm EDGNEX to invest $1 billion in data centre projects in Thailand
Digital infrastructure company launches joint venture with Thai firm
Dubai-based global digital infrastructure company EDGNEX Data Centers by DAMAC has announced a joint venture with PROEN Crop Plc, Thailand’s leading technology provider, to invest US$1 billion (32 billion baht) in several data centre projects in the kingdom.
With a 70% stake in the joint venture, EDGNEX will lead the operation in data services to fulfill increasing needs in AI technology and data processing in the Southeast Asian region, DAMAC founder Hussain Sajwani said during a press event this week.
He added that expanding DAMAC’s investment in Southeast Asia is an exciting opportunity as Thailand possesses significant potential in innovation, digital and smart technology. As a world leader in property development and data centres, the company is committed to promoting the growing digital economy in the kingdom, he said.
Speaking at the press event, Deputy Prime Minister and Digital Economy and Society Minister Prasert Jantararuangtong expressed confidence that the joint venture would be a great starting point for the sustainable growth of Thailand's digital sector.
He believed the investment would enhance the country’s data processing capabilities, support the growth of digital businesses, and attract investors from around the world.
“Thailand is fully entering the digital age, and the government places great importance on developing digital infrastructure,” he said. “We have established policies to promote the growth of the digital sector in all areas, from building infrastructure to developing human resources and supporting digital businesses.”
Kittipan Sri-bua-iam, CEO of PROEN Crop, said the joint investment underscored the importance of expanding digital infrastructure to meet the growing demands in Southeast Asia, which the company aims to bring excellence and innovation to markets in this region.
Investment projects under this joint venture include building data centres with a total capacity of 20 megawatts, with the first phase including a 5MW carrier-neutral facility being operational in early 2025.
It is estimated that the demand for data centre services in the Asia-Pacific region will grow from 14,270MW in 2024 to 23,200MW in 2029, or an average of 10.21% annually.
