This is the Tagline, edited under "Misc Content"
Oct 27, 2024
HONG KONG and BANGKOK, Thailand – October 29, 2024 – Thailand's proximity to the neighboring CLMV (Cambodia, Laos, Myanmar and Vietnam) sub-region coupled with the government’s proactive Cloud First-Policy has spurred an unprecedented surge in demand for greater digital interconnectivity. Responding to the increasing needs of both enterprises and major cloud service providers, Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company®, today announced an intention to invest approximately $500 Million in Thailand in phases over the next ten years, including the recent acquisition of land in Bangkok for approximately US$34 million. This organic expansion is a pivotal step in Equinix's commitment to advancing digital capabilities in Thailand and across Southeast Asia, ensuring the provision of low-latency, reliable digital services for organizations to seize digital opportunities in the region.
Thailand’s high internet penetration rate of 85% and appetite for digitalization signal the nation’s readiness for enhanced digital infrastructure capacity and capability.[1] The Data Centre market is expected to grow at 13%[2] compound annual growth rate (CAGR) and with strong support for initiatives like Thailand 4.0 and the Cloud First-Policy, the country’s digital infrastructure development has a highly promising future.[3] Major cloud players have begun establishing a local presence and continue to focus heavily on growing their footprint in Thailand. This investment by Equinix is another step in its Asia-Pacific expansion strategy, which will fuel long-term growth of digital infrastructure in Thailand and the CLMV countries.
The newly acquired land in the Bangna Area of Bangkok, covering over 18,700 square meters, is intentionally located near the existing Bangkok interconnection eco-system. The land will be used to establish two Equinix International Business ExchangeTM (IBX®) data centers, providing more than 3,375 cabinets at full build out. Its prime position next to the main transport route connecting the airport and the city center, along with its access to public infrastructure and a reliable supply of land and power makes it an ideal location to capture growth and interconnectivity opportunities in Bangkok.
Narit Therdsteerasukdi, Secretary General, Thailand Board of Investment, said: “The next decade will see accelerated shifts in supply chains and migration to the cloud, with manufacturing and digital economic production diversifying across Thailand and the rapidly growing CLMV sub-region. Thailand has emerged as a prime investment destination in this supply chain transformation, attracting substantial investments in prominent industrial clusters, particularly in cloud services, electronics and electric vehicle sectors. Under our Cloud-First Policy, the nation is well-positioned to capture future growth opportunities as a regional hub and digital economy leader for the Greater Mekong region. We are excited to work alongside Equinix to foster our digital capabilities and drive forward our vision for a technologically advanced Thailand.”
Cyrus Adaggra, VP of Corporate Development, Asia-Pacific, Equinix, commented: "Thailand stands at the forefront of digital growth in Southeast Asia, with immense untapped potential as it becomes a key player in the region's digital economy. Equinix's entry in Bangkok is yet another milestone advancing our overarching strategy to enhance interconnection across Thailand and Southeast Asia. This investment underscores our commitment to building a robust and increasingly diverse ecosystem that brings together major cloud service providers and enterprises, fostering business growth and innovation in the region. We look forward to collaborating with our international customers, local enterprises and Government stakeholders to realize this vision and create a more connected, resilient and digitally enabled Thailand economy."
In Asia-Pacific, Equinix currently operates 58 data centers located in 15 key metros across Australia, China*, Hong Kong, India, Japan, Korea, Malaysia and Singapore. Most recently, Equinix announced its market entry into the Philippines and continued expansion in Hong Kong, Malaysia and India. Its global presence with 264 data centers across 72 metros continues to support over 10,000 leading businesses worldwide.
*Equinix operates four data centers in Shanghai through a strategic partnership
Supporting Resources
About Equinix
Equinix (Nasdaq: EQIX) is the world’s digital infrastructure company. Digital leaders harness Equinix’s trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, risks to our business and operating results related to the COVID-19 pandemic; the current inflationary environment; foreign currency exchange rate fluctuations; increased costs to procure power and the general volatility in the global energy market; the challenges of acquiring, operating and constructing IBX and xScale® data centers and developing, deploying and delivering Equinix products and solutions; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenues from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; risks related to our taxation as a REIT and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent and upcoming Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
Equinix Media Contact (Asia-Pacific)
Annie Ho
annho@ap.equinix.com
Equinix Media Contact (Hong Kong)
Tweety Chan
EquinixHK@teamlewis.com