SINGAPORE - ST Telemedia Global Data Centres (STT GDC) and Frasers Property (Thailand) Public Company (FPT) is investing seven billion baht (S$302 million) to build a data centre development in Bangkok.

The move builds on their joint venture partnership announced in April last year with Thai developer FPT, which was then known as Ticon. STT GDC is owned by ST Telemedia.

Located in Ramkhamhaeng in the centre of Bangkok, the new data centre will be the largest in Thailand with a gross floor area of 60,000 sqm.

The development will have two data centre buildings, with the first building designed with close to 30,000 sqm of gross floor area.

Construction of phase one of the project is expected to conclude in 2021, data centre service provider STT GDC said on Tuesday. FPT president Sopon Racharaksa said the first data centre will be in Ramkhamhaeng, located in the centre of Bangkok, in a bid to develop seamless connectivity and ease of access to business communities.

"We expect a strong demand from banking and financial institutions, e-commerce players, global cloud operators, MNC's and local corporates," he said.

Mr Racharaksa added that the collaboration will broaden FPT's ability to offer comprehensive services from industrial buildings to data centre services to our customers. It will also allow FPT to bring its local expertise to ensure the successful development of the data centre.

Reports show that prospects for Thailand's digital economy is positive with IT-related spending estimated at US$72 billion over 2019 to 2022, said the companies.

STT GDC group chief executive officer Bruno Lopez said: "We are already seeing positive interest from global cloud service providers and enterprises who are looking to leverage the growth in the digital economy."