Zhi Sheng Unit Secures $590M Loan for Thai Data Center
Haoyang Data Centre 1 (Thailand) Limited has secured a seven-year US$590 million loan from a Thai bank to build a hyperscale AI data center.
Updated on Nov. 6, 2026 in Data Centers
Haoyang Data Centre 1 (Thailand) Limited, a member of Zhi Sheng Group's target acquisition group, secured a seven-year US$590 million loan from a Thai bank to fund construction of a hyperscale AI data center in Thailand's Eastern Economic Corridor. The company also entered a 10-year colocation services agreement with a leading internet company in July 2026.
Why it matters
The financing and pre-leased capacity signal growing demand for AI computing infrastructure in Southeast Asia, where data center investment is expanding alongside regional digital economies. The colocation agreement gives the project a committed customer before construction is complete.
The 140,302-square-metre site will host phased capacity, with first-phase completion targeted within six months and phased delivery projected for 2027. The colocation contract's roughly US$1.6 billion value excludes electricity charges, which will be billed separately.
The players
Zhi Sheng Group
Zhi Sheng Group is a company with computing campuses in Hohhot, Xilin Gol, and Rayong, Thailand, and is pursuing an acquisition that includes HYDC1.
Haoyang Data Centre 1 (Thailand) Limited
Haoyang Data Centre 1 (Thailand) Limited, known as HYDC1, is a Zhi Sheng subsidiary building the hyperscale AI data center in Thailand.
The details
Zhi Sheng Group's subsidiary HYDC1 is building the hyperscale AI facility on a parcel of about 140,302 square metres in Thailand's Eastern Economic Corridor. The seven-year loan funds construction, and the 10-year colocation agreement with a leading internet company provides a long-term revenue base for the campus.
Timeline
July 2026: HYDC1 signed the 10-year colocation services agreement with the internet company.
November 6, 2026: Zhi Sheng announced the US$590 million loan had been secured.
Within six months: First-phase completion of the data center is targeted.
2027: Phased delivery of the project is expected.
Market Landscape
The Eastern Economic Corridor, Thailand's designated industrial and technology zone, is positioning itself as a regional hub for advanced digital infrastructure. Zhi Sheng's campuses in Inner Mongolia and Rayong show a multi-country footprint that spans mainland China and Southeast Asia.
For users of internet services in Southeast Asia, expanded AI-focused data capacity could support faster and more capable cloud and AI services over time. The project's timeline means the benefit will depend on phased delivery rather than arriving all at once.
The takeaway
Large AI infrastructure projects are increasingly financed and pre-leased before completion, so committed customers and long-term loans are key indicators to watch. Phased delivery schedules mean capacity will come online in stages rather than all at once.
What happens next
First-phase completion of the facility is targeted within six months, and phased delivery is projected for 2027.
Further reading
For broader context on infrastructure projects like this one, see the Data Centers section.
Source note: This article includes information reported by W.
