Vietnam-Based Fund Seeks to Develop $1.5 Billion Data Center Hub
- Saigon Asset Management eyes setting up hub in south Vietnam
- Says more data centers needed after government storage rule
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Saigon Asset Management seeks to develop a data center hub in southern Vietnam with an estimated investment of as much as $1.5 billion, it said in a release.
The 150-megawatt hub will be developed in stages with the first facility expected to be operational within two years, said Louis Nguyen, chief executive officer of the Ho Chi Minh City-based US private equity firm focusing on areas from AI to education. It is looking for investors, including local banks with possible debt financing, and businesses to participate in the project, he said.