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Vietnam's TNT Group and US-Based Infrakey to Jointly Study $10B, 1,000 MW Data Center Plan

By: IDCNOVARegion: Southeast Asia
Vietnam's conglomerate TNT Group and Texas-based data center developer Infrakey DC Parks have signed a memorandum of understanding to jointly study the development of data centers in Vietnam with a total capacity of up to 1,000 MW, a plan that could require as much as $10 billion in infrastructure investment, TNT Group said Monday.

The agreement, signed in Texas, covers a feasibility study for the number of large-scale data centers that could be built to serve artificial intelligence, cloud computing, and data storage workloads. A first phase would target approximately 200 MW of capacity, with power delivery aimed for within 36 months of securing a site and grid allocation. Subsequent phases could scale to 1,000 MW, subject to feasibility assessments, demand, grid capacity, and available funding.

Under the terms of the deal, TNT Group would be responsible for site searches and local coordination within Vietnam, while Infrakey DC Parks would lead the development model, technical standards, financing arrangements, and the feasibility study itself.

The initiative adds to a growing wave of proposed data center projects in Vietnam as the country seeks to attract AI and cloud infrastructure investment, though many of these projects remain at the study or memorandum stage. Vietnam has been positioning itself as a rising contender in Southeast Asia's data center market, benefiting from a regional capacity shift as operators diversify beyond established hubs.

Infrakey DC Parks, headquartered in Texas, is a subsidiary of investment firm Infrakey Capital and focuses on developing large data center parks. Its flagship project, a 925-MW facility in Texas, is currently at an early stage of development.

For Vietnam, the proposed project underscores the country's ambitions to capture a larger share of the rapidly expanding AI and cloud infrastructure market in Southeast Asia. However, the path from memorandum to construction remains uncertain, as large-scale data center developments in the region frequently face challenges related to grid readiness, regulatory approvals, and securing long-term financing. The involvement of a US-based developer also signals continued cross-border interest in Vietnam's digital infrastructure sector, which could accelerate technology transfer and elevate local operational standards if the project advances beyond the feasibility stage.