Sino-Singapore Tianjin Eco-City has signed six new investment deals, which effectively resulted in approximately 500 million yuan (S$95.2 million) in new investments.
Singapore Senior Minister Goh Chok Tong witnessed the signing ceremony with He Lifeng, Deputy Secretary of Binhai New Area Party Committee, who is also head of the project’s master developer, Sino-Singapore Tianjin Eco-City Investment and Development Co Ltd (SSTEC).
“Three to four years from now, the emphasis should be on the soft management of the whole Eco-City,” Mr. Goh said.
“This is where our interest will be, not just the physical building itself.”
SSTEC is an equally owned joint venture (JV) between the Singapore and Chinese consortiums.
Among the signifying parties was Keppel Corp, chairman of the Singapore consortium. Its engineering unit Keppel Integrated Engineering will form a 40-60 JV with Tianjin Eco-City Investment and Development Co Ltd (TECID) to develop, manage and operate a 300 million yuan water reclamation plant to serve the whole Eco-City.
The groundbreaking ceremony for Keppel’s commercial project Seasons City, a development with a total gross floor area (GFA) of approximately 254,398 sq m for retail, office and serviced apartment, was held yesterday.
Other companies that participated in the signing ceremony were Panasonic, General Motors and Philips, which will work with SSTEC to develop eco-technology in the Eco-City.
China’s Sky Communication Group is investing approximately 155 million yuan to have its northern China regional office in the Eco-City, while Singapore-listed LHT Holdings will develop a wood-waste recycling plant at up to 20 million yuan.