On Friday, the share price of STECON Group Public Company Limited (SET: STECON) at the time of 10:55 a.m. in Bangkok, was at THB 5.10, a THB 0.22 or 4.51% gain, with a total trading value of THB 38.64 million.
STECON disclosed that Sino-Thai Engineering and Construction Public Company Limited (STEC), a subsidiary of the company, has signed construction contracts for the CHN-1A Data Center Project and the CHN-24 Data Center Project.
Both contracts were signed with Quartz Computing Co., Ltd., a subsidiary of Alphabet Inc. (Google’s parent company), on March 11, 2025, with details as follows:
1) CHN-1A Data Center is set to have CSA and MEP fitted out. The contract values at THB 7,575,113,346 (VAT included). The work will begin on April 1, 2025 to April 8, 2027.
2) CHN-2A Data Center is set to have CSA and MEP fitted out. The contract values at THB 8,376,164,306 (VAT included). The work will begin on April 1, 2025 to July 11, 2027.
The signing of these contracts highlight STECON as a firm capable of handling major infrastructure and digital system projects, which could significantly bolster the strength of the company’s portfolio.
Previously, the Board of Investment (BOI) has approved the promotion of two significant data center projects with a total investment value of THB 60 billion.
The projects involve Quartz Computing Co., Ltd., a subsidiary of Alphabet Inc. (USA), the parent company of Google, with an investment of THB 32.76 billion, and DigitalLand Services Co., Ltd., under the GDS group, with an investment of THB 28 billion.
The data center project by Quartz Computing aligns with Google’s business plan announced during a meeting with the Prime Minister on September 30, 2024.
Google plans to build new data centers and cloud regions in Thailand with an initial investment of $1 billion. This will be the fifth Data Center for Google in Asia, located in Chonburi, with a planned opening in 2027.
Meanwhile, the data center project by DigitalLand Services, a leading global data center provider with services in China and Southeast Asia, is set to open its new facility in Chonburi in 2026.
Both projects are expected to be hyperscale data centers with high computational capacity, capable of supporting the rapidly growing demand for cloud services from both consumers and businesses in ASEAN. Particularly in Thailand, where there is a high rate of online service usage and digital technology access.
