Thai Billionaire Bets on Data Center Demand Boom From Pandemic
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Thai Billionaire Charoen Sirivadhanabhakdi, whose family built its fortune around real estate, food and beverages, is betting on a boom in online shopping, video conferencing and food delivery to drive demand for data storage services, his newest venture.
Frasers Property (Thailand) Pcl, controlled by Charoen, is investing 7.3 billion baht ($231 million) in building a data center in Bangkok as it sees “robust demand” from companies and individual consumers, according to Supparat Sivapetchranat, chief executive officer of STT GDC (Thailand) Co., a Frasers unit.