KBC, AIC & VietinBank To Build $2.6B AI Data

Vietnam is set to welcome one of Southeast Asia’s largest AI infrastructure projects as Kinh Bac City Development Holding Corporation (KBC), Accelerated Infrastructure Capital (AIC), and VietinBank have signed an MoU to jointly develop a next-generation AI data center complex in Ho Chi Minh City. 

The project, named the SGI-HCM Campus, will locate in Tan Phu Trung Industrial Park, Cu Chi District. It’s designing to deliver 200 MW of power capacity across a 10-hectare site. Once completed, the facility will be capable of hosting up to 100,000 GPUs. This will support the exponential rise in demand for AI training, cloud computing, and high-performance workloads in Vietnam and across Asia. 

Valued at SGD 2.61 billion (approximately USD 2 billion), the project will finance through a combination of equity contributions from KBC, AIC, and partners. Alongside commercial loans arranged by VietinBank. AIC, headquartered in London and Hong Kong. This will bring extensive experience in delivering global data center portfolios worth over USD 20 billion.

Key highlights: 

• KBC will integrate the project into its long-term strategy to transform Vietnam’s industrial parks into high-tech ecosystems. 

• AIC will lead design and development, ensuring compliance with international standards for energy efficiency, cybersecurity, and sustainability. 

• VietinBank will provide project finance and capital mobilisation, ensuring the initiative aligns with Vietnam’s digital transformation agenda. 

Once operational, the SGI-HCM Campus is expected to position Ho Chi Minh City as a regional AI hub, attract foreign digital investment, and accelerate the country’s ambitions in AI, data analytics, and cloud services, marking a pivotal step in Vietnam’s journey toward a digital-first economy. 

Source: 

https://www.itnews.asia/news/kbc-aic-and-vietinbank-to-develop-ai-data-centre-in-ho-chi-minh-city-621739