Singaporean infrastructure investor Infracrowd Capital plans to build a data center in Dan Nang, Vietnam.

The company this week signed a Memorandum of Understanding with Nang IT Park Development Joint Stock Company to develop a $100 million, Tier III standard data center in Da Nang IT Park.

Nguyen Anh Huy, director of IT Park Development Joint Stock Company, said: “It can be said that this is a very meaningful project for Danang IT Park, and we also think that Infracrowd also have their own reasons when deciding to cooperate with Danang IT Park, a partner in Vietnam, an ideal destination to invest in developing a data center.”

Construction firm Trungnam Group is developing a 341 hectare IT Park in the Vietnamese port city of Da Nang, with the first phase comprising 131 hectares. LG has set up an R&D facility in the park.

Infracrowd, set up in 2019, is focused on sustainable infrastructure. This is seemingly its first data center investment.