Gulf Energy Development Public Company Limited (GULF) has announced that on September 30, 2021, the company entered into a Memorandum of Understanding with Singapore Telecommunications Limited (Singtel) to jointly study avenues for the development of a data center business in Thailand, with an intention to form a partnership whereby each party holds 50% equity stake.
The company foresees rapid growth in digital infrastructure in Thailand as the economy increasingly becomes driven by innovation and technology, with greater demand for data management and storage from local enterprises as well as from hyperscalers entering the Thai market.
As such, the company has partnered with Singtel to leverage the strengths of both parties to capture this growth potential and establish a leading data center business which will utilize energy-efficient technologies and green energy solutions to reduce greenhouse gas emissions and support sustainable operations.
The company believes that this collaboration will enhance the value of the data center business as the company combines its experience in the power business, including renewable energy, infrastructure business, and strong local know-how with Singtel’s extensive expertise in developing high quality data centers for a diversified customer base globally.
The partnership is aligned with the company’s policy to expand its business and strengthen its digital infrastructure business while providing further opportunities for the company to jointly expand the data center business in Asia and other regions with Singtel in the future.