Global Infrastructure Partners (GIP) and BlackRock plan to collaborate with “CP–True IDC” to improve Thailand’s digital systems. They want to turn Thailand into a regional central data centre hub and may invest up to $5 billion in the project.
GIP–BlackRock said last Friday that they plan to work with local partners in Thailand on a big digital project, mainly focusing on building data centres. The investment could be between $3 billion and $5 billion.
This investment will greatly improve Thailand’s ability to handle advanced technologies like artificial intelligence (AI), big data, and cloud services.
The project is expected to create many jobs in engineering and technology and help make Thailand more competitive in today’s global economy.
Southeast Asia is becoming a fast-growing area for data centers. Experts predict the market will grow to $3.81 billion between 2024 and 2029, with a yearly growth rate of 6.8%. This growth is being pushed by more use of edge computing, artificial intelligence (AI), and cloud services.
Thailand’s data center market is expected to grow by 7.5% to 8.5% annually over the next three years.
This is an excellent chance for Thailand to become an important technology center and play a big role in the ASEAN region’s economy.
The announcement came after top leaders from Global Infrastructure Partners (GIP), a major investment group under BlackRock—one of the world’s biggest money managers—officially visited Thailand.
The delegation was led by Adebayo Ogunlesi, co-founder, chairman, chief executive officer of GIP, and senior managing director at BlackRock.
During the visit, Ogunlesi met with Prime Minister Paetongtarn Shinawatra to discuss investment opportunities and work together to improve Thailand’s digital infrastructure.
Suphachai Chearavanont, CEO of Charoen Pokphand Group (CP Group), and leaders from True IDC also joined the discussion. They shared their plans and confirmed that Thailand’s private sector is ready to help make the country a regional hub for technology and AI.
Shinawatra has shown her commitment to making private sector investments in infrastructure easier, faster, and more transparent.
She also confirmed that the government is ready to support cooperation between businesses and universities to develop knowledge and skills, which will help strengthen Thailand’s digital economy and data center industry.
Meanwhile, Chearavanont said that Thailand has great potential to become ASEAN’s digital and AI center.
“We are now entering the giga data center era—facilities designed to support gigawatt-scale energy demands and handle high-intensity workloads, tailored to meet the needs of global technology companies investing in Thailand,” he said.
He also said CP Group is fully committed to working with international partners such as GIP and the Thai government to elevate the country’s digital infrastructure, promote human capital development, and support research and development initiatives.
“These efforts can transform Thailand into a center for education and innovation, delivering long-term benefits to future generations,” he added.
Ogunlesi, on the other hand, said that GIP works in over 100 countries and has a lot of experience building important infrastructure projects, like airports, ports, power systems, renewable energy, and data centers. These are essential systems that support long-term growth in the digital economy.
“We believe in Thailand’s strategic importance in Southeast Asia, supported by its advantageous geography, infrastructure, energy resources and human capital—all of which are conducive to sustainable development,
“GIP’s investment in Thailand is not merely a business opportunity; it is a strategic partnership aimed at building a stable, secure, and sustainable digital ecosystem and laying a new foundation for the regional digital economy,” he added.
The visit of GIP–BlackRock to Thailand marks the start of an important strategic partnership.
Read also – Indian Court Orders Seizure of 129 Electric Vehicles in BluSmart Loan Case
