Thailand approves Western Digital's $693 mln investment project (updated)

Western Digital

26/08/2024 04:28

(Updates with additional details in paragraphs 2-6)
       BANGKOK, Aug 26 (Reuters) - Thailand has approved
Western Digital's  WDC.O  23.5 billion baht ($693 million)
project to expand hard disk production in the country,
Thailand's Board of Investment (BOI) said on Monday, as cloud
technology and data centre demand grows. 
    The investment would boost the Thai economy by adding
exports worth 200 billion baht per year and creating an extra
10,000 jobs, the BOI said.
    Western Digital's Thai facility currently employs 28,000
people in Thailand, where some 80% of the world's hard disks are
made, according to the BOI.
    Thailand has approved 82.6 billion worth of investments in
the hard disk industry in the decade. Last year, rival hard disk
maker Seagate made an expansion with a 16 billion baht
investment.
    Southeast Asia's second-largest economy expects overall
investment applications to reach 800 billion baht for 2024. 
    
    ($1 = 33.93 baht)

 (Reporting by Kitiphong Thaichareon and Chayut Setboonsarng;
Writing by Orathai Sriring; Editing by Tom Hogue and Michael
Perry)
 ((orathai.sriring@tr.com;))