EDGNEX recently announced a JV with PROEN Corp Public Company Limited, a prominent listed player in the Thailand technology landscape. This strategic investment marks a major expansion of the company’s footprint in Thailand and aligns with its commitment to supporting digital transformation in the Southeast Asia (SEA) region.
According to Industry sources, EDGNEX will have a 70% stake in the JV and be responsible for data center operations. The event was honored by the presence of H.E. Prasert Chantararuangthong, Deputy Prime Minister and Minister of Digital Economy and Society, who delivered a congratulatory speech and shared the government’s vision for investment in the digital business sector in Thailand.
Industry sources further added that EDGNEX Data Centers by DAMAC, a global digital infrastructure provider, has announced its second significant investment in Thailand’s digital infrastructure. Industry sources further claimed that EDGNEX plans to invest over 32 billion Baht (1 billion USD) in a series of data center projects to meet the rising demands of advanced AI technology and data processing capabilities. EDGNEX is owned by DAMAC Group, a global leader in real estate development, data centers, and other sectors.
“I am honored to be part of this event to congratulate the joint venture between these two corporations. It is a remarkable opportunity to meet key figures in the technology and digital industry, who play vital roles in driving Thailand forward into the digital era. The Thai government recognizes the importance of establishing a strong foundation for digital infrastructure. We have policies that support all aspects of the digital industry’s growth, from fundamental infrastructure and human resource development to fostering digital business. This investment will significantly enhance Thailand’s data processing capabilities, aligning with the growing trends in the digital industry and attracting investors from around the world. Furthermore, it will create valuable opportunities for Thai professionals seeking to advance in the digital business sector. I extend my deepest gratitude and congratulations to EDGNEX for recognizing Thailand’s potential and choosing it for this investment. I believe this joint venture marks the beginning of a long-term development for Thailand’s digital industry,” stated H.E. Prasert Chantararuangthong.
“We are excited to expand our investment further into SEA and specifically into Thailand, a country that has shown immense potential for growth in digital innovation and smart technologies,” stated Hussain Sajwani, Founder of DAMAC Group. “We aim to support Thailand’s growing digital economy and provide the necessary infrastructure for the next generation of AI-driven businesses. With this announcement, we substantially commit to the Thailand market, outlining a pipeline of approximately 100 MW of future data center capacity.”
Kittipan Sri-bua-iam, CEO of PROEN Corp Public Company Limited, stated: “We are very excited about this partnership with EDGNEX Data Centers by DAMAC which is increasingly becoming a key player in the data center business with a solid footprint across SEA. This announcement underscores the importance of investments in the sector to meet Thailand’s increasing demand for digital infrastructure. We look forward to bringing excellence and innovation to the market.”
Industry sources added that this joint venture will comprise a state-of-the-art data center project with a total potential capacity of 20 MW. The first phase, comprising 5 MW of capacity, is already scheduled to be operational in early 2025. This data center will be a carrier-neutral facility with Tier III uptime certification, providing world-class reliability and resilience for its clients. The joint venture is focused on finalizing and commencing its trade by this year.
Industry sources further added that DAMAC Group has partnered with PROEN through Caesor Data Center and Cloud Services Co., Ltd. a joint venture (JV) between **Magma Holding Company Limited** and **PROEN Corp Public Company Limited. Magma Holding is majority-owned by the founders of **DAMAC Group,** a global leader in real estate development and data center services.
