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TICON-led JV to create first data centre

Dec 18. 2018
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TICON Industrial Connection (TICON), which will be re-named Frasers Property (Thailand) Plc, and Singapore-based data-centre service provider ST Telemedia Global Data Centre (STT GDC), have finalised a joint venture agreement to develop the first data centre in Thailand with an investment Bt7.3 billion.

It will be a hyper-scale facility to serve digital needs in the Greater Bangkok area.

TICON will hold a 51 per cent stake in the venture, with STT GDC holding the rest. 

Frasers Property-STT GDC, will develop the first data centre on 15 rai (2.4 hectares) of land in Bangkok’s Ramkhamhaeng district. Construction is expected to start mid-2019 and is due for completion and service commencement in the following year. 

This project is in line with the Thailand 4.0 initiative to develop a digital economy, as well as the government’s National Digital Economy masterplan. The digital economy is expected to bring robust growth and contribute up to 25 per cent of Thailand’s GDP by 2027. At the same time, public cloud spending in the Asia-Pacific region excluding Japan is expected to grow exponentially at a compound annual growth rate (CAGR) of 32.58 per cent between 2016 and 2021. 

The projected increase in digitalisation and digital transformation is expected to bring about a correspondent increase in demand for digital infrastructure and data-centre capacity in Thailand and the region, Panote Sirivadhanabhakdi, chairman of TICON’s executive committee, said yesterday.

 “We believe in the potential of expanding our focus to develop Thailand’s digital economy and transforming urban living with Smart Cities. Developing a digital infrastructure with a state-of-the-art data centre is one of our key investments in the new economy. We are delighted to partner with a reputed global player like STT GDC in this joint venture, and believe the combined strengths of both companies will best serve the digital growth plans of our customers,” he added.

Bruno Lopez, group chief executive officer of STT GDC, said this development marked their first foray into the Thai data-centre market, and will strengthen their expanding network across major data-centre markets around the world. 

“With our ‘think global, act local’ mantra, we believe TICON, with their rich legacy and successful operating history in the country, will be a valuable partner. We are confident that with our expertise in designing, building and operating data centres to the highest global standards in key markets such as Singapore, China, India and the UK, and TICON’s understanding of the Thai market and navigating its regulatory environment, we will be able to meet the demands of our customers to support their digital growth and help them realise the Thailand 4.0 vision, ” he added.


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