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Gulf Development allots B100bn budget
Bangkok Post
|March 26, 2025
Gulf Development Plc, a new firm established by the merger of Gulf Energy Development Plc and Intouch Holdings Ple, is planning to spend 100 billion baht over the next five years synergising energy and telecom busi- nesses, as well as developing a data centre facility.
The amalgamation between Intouch, the parent of major telecom operator Advanced Info Service (AIS), and Gulf, Thailand’s largest power company by market value, is scheduled to be com- pleted on March 31, ready for stock trading from April 2.
The budget is to be allocated from 2025 to 2029 to restructure energy and telecom businesses, as well as support a plan to ride the trend of data centre and cloud service development, said Sarath Ratanavadi, chief executive of Gulfand Thailand's second richest businessman with assets worth US$9.8 billion.
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