KBC, AIC, and VietinBank sign MoU to develop $2 billion data centre

Under the MoU, signed on October 28, the three parties will harness each other's strengths to implement the first phase of the initiative, while exploring expansion in other national destinations in the following phases.

With extensive experience in developing industrial zones and urban areas, KBC considers the data centre initiative as a strategic step to upgrade its industrial value chain – from traditional manufacturing infrastructure to digital and high-tech infrastructure.

AIC is a global investment and management advisory platform for data centres and digital infrastructure programmes. AIC is looking to establish a long-term partnership with KBC and other stakeholders to develop a chain of hyperscale and neocloud data centres, serving cloud computing and AI demands across the region.

VietinBank, one of Vietnam's largest commercial banks, will serve as the financial partner, providing advisory, project financing, and capital mobilisation services to ensure the sustainable and efficient implementation of the data centre.

The venture is estimated to have a total investment of nearly $2 billion, mobilising from both equity and commercial loans, with equity contributions from KBC, AIC, and other partners.

The SGI-HCM Campus is envisioned as a large-scale AI data centre complex with a designed IT load capacity of up to 200 MW and the ability to operate up to 100,000 GPUs.

Covering 10 hectares in Tan Phu Trung Industrial Park, the data centre is expected to lure high-tech and digital infrastructure industries. The SGI-HCM Campus will be developed in line with international standards, with a focus on energy efficiency, cybersecurity, and sustainability.

Dag Thanh Tam, chairman of KBC, shared, “As a member of Saigon Invest Group, KBC is committed to contributing to Vietnam's digital infrastructure development. Data centres represent a key part of upgrading the industrial value chain, helping Vietnam stay ahead of new production and technology trends. We are honoured to collaborate with domestic and international partners to implement this project, fostering investment, innovation, and sustainable growth.”

As one of the largest operators of industrial parks in the country, Kinh Bac City Development Holding Corporation has become a trusted developer for many foreign investors.

Kinh Bac Urban Development Corporation announced on April 17 that its subsidiary has paid a land-use rights fee of VND6.86 trillion ($265.2 million) for residential land in Trang Cat Urban and Service Area.

The government has given a nod to the Trump Organization and its partners to pour $1.5 billion into golf courses, hotels, and real estate in Vietnam.