Dubai-based global digital infrastructure company, EDGNEX Data Centers by DAMAC, has partnered with PROEN Crop Plc, Thailand’s top technology provider, to invest USD 1 billion (THB 32 billion) in multiple data center projects in Thailand.
EDGNEX will hold a 70% stake in the joint venture and will aid the data services operation as it navigates the increasing demand for AI technology and data processing in Southeast Asia, according to DAMAC Founder, Hussain Sajwani.
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Sajwani mentioned that expanding DAMAC’s investments in Southeast Asia presents an exciting opportunity due to Thailand's potential in innovation, digital, and smart technology. As a leader in property development and data centers, the company is dedicated to supporting the growing digital economy in Thailand.
Deputy Prime Minister and Digital Economy and Society Minister Prasert Jantararuangtong is confident that the joint venture will kickstart sustainable growth in Thailand's digital sector. He believes the investment will improve the country’s data processing capabilities, boost digital businesses, and attract global investors.
CEO of PROEN Crop, Kittipan Sri-Bua-Iam, highlighted the importance of expanding digital infrastructure to meet the rising demands in Southeast Asia. The joint investment aims to bring excellence and innovation to markets in the region.
The investment projects will involve constructing data centers with a total capacity of 20 MW, with the first phase (including a 5 MW carrier-neutral facility) expected to be operational by early 2025.
The demand for data center services in the Asia Pacific region is projected to increase from 14,270 MW in 2024 to 23,200 MW in 2029, growing at an average rate of 10.21% annually.
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