STECON Eyes 50 Billion Baht in Data Center Projects

MGR Online•Economy•5d ago

Reader Briefing

STECON plans to bid for three data center projects totaling 49,800 million baht while the Anutin Charnvirakul government slows new investment promotions in the sector.

•STECON has 4 data center projects in hand valued at 13,200 million baht as of June 30, 2026.
•STECON aims to bid for 3 new data center projects totaling approximately 49,800 million baht by 2026.
•The Board of Investment (BOI) has delayed the consideration of new data center projects since April 2026.
•The Cabinet approved the establishment of a national Data Center Business Policy Committee on August 5, 2026.

Overview

•STECON reported construction revenue of 16,600 million baht for the first half of 2026, a 9.1% increase driven by data center and clean energy projects.
•STECON developed the Stellar DC project in collaboration with SC Zeus Data Centers from Singapore with an investment value of 8,050 million baht.
•Eastwater Stecon Utilities signed a 10-year industrial water supply contract for Bridge Data Centres' Hyperscale Data Center in Chonburi.
•The Board of Investment (BOI) began delaying investment promotions for new data center projects in April 2026.
•The Cabinet established the Data Center Business Policy Committee on August 5, 2026 to determine frameworks for approval and resource use.
•Bloomberg reports that STECON is controlled by the family of Prime Minister Anutin Charnvirakul.
•As of March 10, 2026, C.T. Venture Co., Ltd. is the largest shareholder of STECON at 19.62%, and Masthwin Charnvirakul holds 1.68% directly.
•Market observers note a contradiction between the government's effort to brake data center projects and the growth of STECON, which has links to the Prime Minister's family.

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Key Entities

Organization

STECON Group Public Company Limited(บริษัท สเตคอน กรุ๊ป จำกัด (มหาชน))

A construction company linked to the Charnvirakul family with significant data center projects in hand.

C.T. Venture Co., Ltd.(บริษัท ซี.ที. เวนเจอร์ จำกัด)

The number one shareholder of STECON holding 19.62%.

Board of Investment(สำนักงานคณะกรรมการส่งเสริมการลงทุน)

The agency that has delayed the promotion of new data center projects since April 2026.

National Data Center Business Policy Committee(คณะกรรมการนโยบายการประกอบกิจการ Data Center ระดับชาติ)

A committee established by the Cabinet on August 5, 2026 to regulate data center investments.

Bloomberg

A news agency that reported on STECON's bidding plans and family control.

SC Zeus Data Centers

A Singaporean company that co-developed the Stellar DC project with STECON.

Eastwater Stecon Utilities

A joint venture between Stecon Power and East Water providing industrial water to Bridge Data Centres.

Bridge Data Centres

Owner of a Hyperscale Data Center project in Chonburi.

Stellar DC

A project developed by STECON and SC Zeus Data Centers with an investment of 8,050 million baht.

Person

Anutin Charnvirakul(อนุทิน ชาญวีรกูล)ℹ️

The Prime Minister leading the government that is slowing down data center investment promotions.

Masthwin Charnvirakul(มาศถวิน ชาญวีรกูล)

A direct shareholder of STECON holding a 1.68% stake.

Place

Chonburi(ชลบุรี)ℹ️

The province where Bridge Data Centres' Hyperscale Data Center is located.