CMC Corporation has invested $12.5 million to establish a subsidiary, CMC AI Digital Infrastructure (CMC ADI), which constructs and operates hyperscale data centres.
The corporation's Board of Directors approved the resolution to establish the subsidiary on July 3, with capital increases to follow the scale and financial plan of the project after obtaining an investor certificate.
CMC ADI is headquartered in Tan Thuan Export Processing Zone (EPZ) in Ho Chi Minh City. The hyperscale data centre project will be detailed at CMC's AGM in 2024, expected to take place on July 25 in Hanoi.
If approved, CMC ADI will commence operations and represent a strategic move by CMC to tap into the vast potential of the data centre market while affirming the group's position as a major player in the digital transformation of Vietnam.
According to its financial report, by the end of the first quarter of 2024, CMC Corporation had invested over $52.7 million in 10 subsidiaries, and will increase the number of subsidiaries to 11 with CMC ADI, its second-largest investment, following CMC Technology and Solutions Corporation with a charter capital of $12.9 million.
The data centre race in the first half of this year has witnessed many milestones as domestic enterprises have invested millions of dollars to build international standard data centres, thereby creating autonomy for domestic internet infrastructure and laying the groundwork to compete internationally.
"Without data centre investment, telecom operators will have no new growth space and will be replaced. Data centres must grow with cloud computing services; otherwise, it will simply be leasing positions. Every three years, global data doubles and Vietnam's data growth rate is even faster," said Nguyen Manh Hung, Minister of Information and Communications.
VNG and ST Telemedia Global Data Centres (STT GDC) established a joint venture in May to build and operate a second data centre in Ho Chi Minh City to sell cloud services worldwide. The deal involves continuing to operate the STT VNG Ho Chi Minh City 1 Data Centre, which has Uptime Tier III certification, and establishing a new data centre named STT VNG Ho Chi Minh City 2, also located in Tan Thuan EPZ.
The second data centre is expected to be operational in the first half of 2026.
In April, Viettel inaugurated a new data centre in the Hoa Lac Hi-Tech Park, Hanoi, with 60,000 servers and a total power consumption capacity of up to 30MW, the largest data centre in Vietnam to date.
And back in February, FPT Telecom held the topping-out ceremony of the FPT Data Centre building at the FPT Technology Urban Area, Danang.
FPT is also building its fourth data centre in the High-Tech Park of Thu Duc of Ho Chi Minh City this year. All of these data centres are built by FPT Telecom to the highest and most stringent international standards.