Thailand-based data center operator True Internet Data Center Co. is seeking a loan equivalent to about US$2 billion to build a new facility outside Bangkok, according to people familiar with the matter, as Thailand courts AI and cloud investment.

The proposed borrowing would be split into three tranches, including a portion of about US$1.8 billion and two Thai baht-denominated portions, and could have a five-year term, the people said.

Talks with banks are still at an early stage, and terms may change.

True IDC, a data center and cloud provider under Charoen Pokphand Group, recently launched an AI-focused hyperscale site with over 20 megawatts of power capacity.

Thailand approved 958 billion baht (US$28.6 billion) of investment projects in May, including TikTok System (Thailand) Co.’s planned data infrastructure expansion.

🔗 Source: Bloomberg