Equinix to pad Thai coffers with $500 million investment
Equinix to pad Thai coffers with $500 million investment • The Register
Equinix to pad Thai coffers with $500 million investment
Another Asian country declares ambition to be a tech hub
Thailand has won a pair of high profile investments that boost its ambition to become a hub for datacenters and semiconductor manufacturing.
One of these is a ten-year long 16.5 billion baht ($490 million) commitment from California-headquartered datacenter giant Equinix. The Thailand Board of Investment (BOI) proclaimed the investment will center Thailand as a digital hub for the Greater Mekong Subregion – which includes countries like Cambodia, Laos, Myanmar, Thailand, Vietnam, and parts of China that are connected by the Mekong River.
Equinix has acquired 18,700 square meters of land near Bangkok on which it will build two datacenters, providing capacity for over 3,375 cabinets.
The first phase of the project, worth 7.18 billion baht ($213 million), is slated to be open for service in 2027, according to BOI.
Printed circuit board (PCB)-maker Mektec has also chosen to invest– to the tune of 920 million baht ($27.3 million) – with an eye on developing demand for its electronic devices, especially in electric vehicles.
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The investment board boasted that Thailand has become the top source of PCB production in the ASEAN bloc, and scored a top five ranking globally. It also revealed there are currently 47 projects applying for investment promotion, with an estimated collective 173 billion baht ($5.13 billion) value.
Late last week Thailand's prime minister, Paethongtarn Shinawatra, signed into existence a National Semiconductor Board, which he will personal chair. The board, composed of key government and industry leaders, is tasked with making Thailand a top player in semiconductor manufacturing in the region. Shinawatra's involvement signals the government's deep commitment to the goal.
The board's responsibilities include setting industry policies, creating a roadmap for investment and skilled workforce development, and strengthening the supply chain. It will also evaluate plans related to semiconductor development and present them to the cabinet. ®
Related Knowledge Center: Climate diplomacy
Talks are well underway in preparation for the next major international meeting on climate change, 28th Conference of the Parties (COP28), scheduled to begin Nov. 30 in the United Arab Emirates.
Much like last year’s COP27, finances — specifically, aid to developing nations — will be at the center of conference deliberations.
The conference faces an even greater sense of urgency brought on by the Sept. 8, 2023, release of the first global stocktake, which calls for accelerated action to meet the goals set in the 2015 Paris Climate Agreement (COP21).
Climate diplomacy: COP 27 | Climate diplomacy: COP 28 | Climate diplomacy: COP 29