Vietnam’s real estate and industrial park developer, Kinh Bac City Development Holding Corporation (KBC) has in October signed a Memorandum of Understanding (MoU) with data center specialist Accelerated Infrastructure Capital (AIC), and Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), to jointly develop a 200-MW artificial intelligence (AI) data center campus with investment of almost US$ 2 billion.
KBC targets the first phase to come online by end 2027 with power infrastructure in place, according to a senior executive.
The agreement provided for the implementation of the first phase of the data center project which can be expanded for later phases including into other locations.
Named SGI-HCM, the AI data center campus is said to be able to operate 100,000 GPUs, which the parties hope to implement within the next few years, according to the statement. The name “SGI-HCM” comes from Saigon Invest Group (SGI) – a specialist in the field of infrastructure and industrial park investment, of which KBC is a key member.
Spanning 10 hectares in Tan Phu Trung Industrial Park, Ho Chi Minh City, the SGI-HCM Campus complex will be developed according to international standards, focusing on energy efficiency, information security and sustainability.
AIC has international experience in developing and operating data centers with its founding team having participated in many large-scale data center projects in Asia, the Middle East and Europe and a total investment portfolio of over US$ 20 billion.
VietinBank, one of the largest commercial banks in Vietnam, will act as a financial partner, providing consulting services, project finance and capital mobilization.
“As a member of Saigon Invest Group, KBC wishes to contribute to the development of digital infrastructure in Vietnam. The data center is part of the process of upgrading the industrial park value chain, helping Vietnam to take the lead in new production and technology trends, ” said Dang Thanh Tam, Chairman of KBC Board of Directors.