China, Singapore plans 100b yuan high-tech zone

Discussion in 'China' started by cir, May 9, 2012.

  1. cir

    cir Senior Member Senior Member

    Dec 28, 2010
    Likes Received:
    Is this gonna be a repeat of the mightily successful Suzhou High-Tech Innovation Park??? :rofl:

    Updated: 2012-05-09 10:13(Xinhua)

    CHENGDU -- The construction of a 100-billion yuan ($16 billion) high-tech zone was jointly launched Tuesday in Southwest China's Sichuan province by the provincial government and a Singapore company.

    The Singapore-Sichuan High-tech Innovation Park, planned to cover 10.34 square kilometers and house 120,000 residents in Gaoxin district and Tianfu district in Chengdu, capital of Sichuan, is expected to attract an investment of 100 billion yuan from 2012 to 2020.

    Under the guidance of Sichuan government authorities, the project will be operated by the Singapore-Sichuan company Sino-Singapore (Chengdu) High-Tech Innovation Park Development Company Ltd., with a registered capital of $297 million, jointly invested by Singapore state-owned company Temasek Holdings and Chengdu High-tech Investment Group, said Tang Hua, deputy director of the development administration of Gaoxin district.

    Of the 100 billion yuan investment, 20 billion yuan will be invested by the Sino-Singapore company, mainly for infrastructure construction, while the rest will come from global investors, Tang said.

    The park will mainly focus on eight industries including information technology, service outsourcing, digital media, biomedicine, environmental protection, precision machinery, finance and training, Tang said.

    The park is expected to have 120,000 to 150,000 employees as a new platform for China, Singapore and other countries to invest in western China, said Lim Swee Say, minister of Prime Minister's Office, advisor of Singapore-Sichuan Trade and Investment Committee, secretary-general of Singapore National Trade Union Congress.

    As the first Sino-Singapore large-scale integrated project, the park is expected to be a model for China's western development, Lim said.

    Jiang Jufeng, governor of Sichuan said the launch of the park's construction signified that Singapore had gained the upper hand in the new round of western development.

    Sichuan with the largest economy of China's western provinces, was one of the first Chinese provinces which set up cooperation with Singapore five years ago.

    The province's GDP reached two trillion yuan in 2011. In the same year, Sichuan attracted $11 billion and the total import and export volume was $47.7 billion, which topped China's western provinces.

    Over the past five years, Singapore's investment in Sichuan has increased 11 fold and Sino-Singapore bilateral trade volume increased 5.5 times.

    Non-stop flights had been set up between Chengdu and Singapore by either country's airlines.

    Singapore enterprises had over 20 years of investing experiences in Sichuan, which made them clear about the potential of China's western provinces, said Low Sin Leng, executive chairwoman of Sembcorp Development Ltd, which participated the investment.

    With advantages in human resources and infrastructures, plus Sichuan's pleasing residential environment, the investment work of the park has progressed smoothly, Low said.

    China, Singapore plans 100b yuan high-tech zone|Industries|
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  3. cir

    cir Senior Member Senior Member

    Dec 28, 2010
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    China to build Singapore's biomass-solar power plant

    Updated: 2012-05-09 10:43(Xinhua)

    SINGAPORE - China Guangdong Nuclear Power Holding Corporation (CGNPC) held a groundbreaking ceremony in Singapore on Tuesday to establish an integrated biomass-solar power generation plant and its regional headquarters, setting a milestone for the cleantech industry.

    The $33.6 million investment project (Phase I) is fuelled by wood and horticultural waste, as well as solar installation on the rooftop. This 10-megawatt facility will play a significant role as Singapore moves towards being a greener and cleaner city.

    This facility is the first overseas project developed and implemented by CGNPC. Being the regional headquarters, the plant affirms Singapore's strategic position as the gateway to the clean energy market in Asia Pacific.

    "We are excited that CGNPC, a leading Chinese clean energy corporation, has chosen Singapore for this landmark Cleantech investment and also to internationalize its business. With our multinational business community, highly-skilled workforce, strong focus on innovation and intellectual property protection, Singapore is well-placed to serve as a strategic base for Chinese Cleantech companies to orchestrate their regional and global business activities," Tan Choon Shian, acting managing director of Singapore Economic Development Board, said.

    "We are confident that this would pave the way for many more Asian cleantech enterprises to grow their international footprint in Singapore," he said.

    Senior Vice-President of CGNPC Tan Jiansheng said "Singapore is an ideal gateway for companies keen to develop clean energy solutions tailored for Asia, given its robust supply chain capabilities and connections to the region. This facility will aim to meet the energy needs of Singapore as part of our ongoing efforts to provide clean energy for the benefit of humanity."

    This plant is expected to be completed by November 2013.

    China to build Singapore's biomass-solar power plant|Companies|

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