GIP–BlackRock Discusses a Strategic Partnership with "CP–True IDC" to Strengthen Thailand's Digital Infrastructure and Build a Regional Giga Data Center Hub

Korea Herald

09-05-2025

BANGKOK, May 9, 2025 /PRNewswire/ -- Thailand has once again gained strong confidence from leading global investors, as a high-level delegation from Global Infrastructure Partners (GIP)—a major infrastructure investment group under BlackRock, one of the world's largest asset managers—paid an official visit to Thailand. The delegation was led by Mr. Adebayo Ogunlesi, Co-founder, Chairman, and CEO of GIP, and Senior Managing Director at BlackRock. During the visit, Mr. Ogunlesi met with Prime Minister Paetongtarn Shinawatra to discuss investment opportunities and collaboration in Thailand's digital infrastructure. Joining the discussion were Mr. Suphachai Chearavanont, CEO of Charoen Pokphand Group (CP Group), and executives from True IDC, who shared their vision and reaffirmed the Thai private sector's readiness to elevate the country as a regional hub for technology and AI.
Prime Minister Paetongtarn Shinawatra warmly welcomed the delegation and expressed her commitment to facilitating private sector infrastructure investments with greater ease, speed, and transparency. The PM also affirmed the government's willingness to support collaboration between the private sector and academic institutions to develop knowledge and human capital, ultimately strengthening the foundation for Thailand's digital economy and data center industry.
Mr. Suphachai Chearavanont, CEO of CP Group, stated, "Thailand holds tremendous potential to become the digital and AI hub of ASEAN. 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. 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."
Mr. Adebayo Ogunlesi, Co-founder, Chairman, and CEO of GIP, and Senior Managing Director at BlackRock, remarked, "GIP operates across more than 100 countries and has deep expertise in delivering world-class infrastructure projects, including airports, ports, power systems, renewable energy, and data center networks—core systems that underpin long-term digital economic growth. 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."
A key highlight of this visit is GIP–BlackRock's plan to collaborate with local partners on a major digital infrastructure investment in Thailand valued between USD 3–5 billion (approximately THB 105–175 billion), with a primary focus on data centers. This investment will significantly enhance Thailand's capabilities in supporting advanced technology workloads such as AI, Big Data, and Cloud Services. It is expected to generate substantial employment in the engineering and technology sectors while positioning Thailand as a stronger competitor in the modern global economy.
Regionally, Southeast Asia is emerging as a new growth hub for the data center market, with forecasts predicting market value to reach USD 3.81 billion from 2024 to 2029, at a compound annual growth rate (CAGR) of 6.8%, driven by edge computing, AI adoption, and broad cloud usage. Thailand's data center market alone is expected to grow at a CAGR of 7.5%–8.5% over the next three years. This marks a pivotal opportunity for Thailand to become a key technology hub with a central role in ASEAN's economic ecosystem.
The visit of GIP–BlackRock to Thailand marks the beginning of a significant strategic alliance. It brings together the vision of the government, leading Thai industry players, and global investors to lay the foundation for future innovation—with Thailand leading the way toward a new regional direction in the era of digital economies driven by intelligent infrastructure.