4 days ago
Samsung C&T, Partner To Build $1.3 Billion Data Center In Vietnam
Samsung C&T and Vietnam's CMC Corp. are investing $1.3 billion to build a data center hub in Ho Chi Minh City to tap into the growing demand for cloud computing and AI in the country.
The project will be developed in two phases, with an initial $250 million investment to develop a 30-megawatt data center, and a bigger 100-megawatt facility that will entail about $1 billion to develop, CMC said in a statement on Wednesday.
'This will be a leading digital infrastructure project in terms of scale and standards in the region, directly contributing to making Vietnam a data and AI hub in the Asia-Pacific,' Nguyễn Trung Chính, chairman of CMC said in the statement. Established in 1993, CMC is among Vietnam's largest technology companies, providing IT services, digital infrastructure and AI solutions.
Vietnam is becoming one of the region's data center hotspots given the lower cost of developing data centers in the country compared to other Asian countries. Cushman & Wakefield estimates the average development cost in Vietnam at about $7 million per megawatt of caapcity—well below the regional average of $10 million and almost half Japan's $16 million, the most expensive in the region.
Part of South Korea's biggest conglomerate, Samsung C&T is a construction and engineering company that has worked on major landmark projects such as Dubai's Burj Khalifa and Singapore's Marina Bay Sands.
