Source : Straits Times - 23 Jan 2009
Despite the financial crisis, the Tianjin Eco-city signed up its first business partner yesterday in the northern port city.
A Memorandum of Understanding was inked between the eco-city and Indian-owned Sembawang Engineers and Constructors (E&C) to study the feasibility of building a US$1 billion (S$1.5 billion) solar polysilicon production plant.
The plant is expected to create about 500 direct jobs in the city, as it produces this key raw material required to make solar panels.
The chief of the eco-city’s master developer lauded the deal as a sign of the project’s potential, saying it will pave the way for greater growth in this tie-up between the Chinese and Singapore governments.
The landmark eco-city project, which is expected to be completed in about 10 to 15 years, will cost about 50 billion yuan (S$11 billion). It is the biggest bilateral venture between Singapore and China since the Suzhou Industrial Park in the early 1990s.
‘Sembawang E&C’s plant will form the nucleus of our eco-business cluster, creating several spin-off benefits for the Tianjin Eco-city’s broader development in terms of job creation and training,’ said Mr Goh Chye Boon, the chief executive of Sino-Singapore Tianjin Eco-City Investment and Development (SSTEC).
‘Sembawang E&C’s participation amid the current economic environment is a clear signal of the tremendous potential of the Tianjin Eco-city.
‘The firm commitment from the Chinese and Singapore governments to its success makes the Tianjin Eco-city a highly attractive investment opportunity for companies that are looking for long-term sustainable growth.’
If the 15ha plant goes ahead, it will start with an initial capacity of 5,000 tonnes a year, with the option to expand annual production by 2,500 tonnes after 2012.
It is to be located in the eco-city’s northern manufacturing ‘Eco-Silicon Valley’ zone.
And in line with the eco-city’s green environment, the plant will use a closed loop system so that any pollutants from the production process will be treated before being discharged.
Sembawang E&C was a former Singapore Government-linked company, responsible for the construction of Changi Airport and the MRT system. It was acquired by New Delhi-based engineering and construction group Punj Lloyd in 2006. Its headquarters remains in Singapore.
Sembawang E&C president and CEO Richard Grosvenor said: ‘We are very pleased to join SSTEC in the development of the Tianjin Eco-city.
‘The strategic location at the heart of the bustling Tianjin Binhai New Area, coupled with favourable supporting policies, provides an ideal base for this production facility in China.
‘This partnership also represents a significant step in our efforts in bringing technology know-how into China. I have been visiting Tianjin for over 15 years and watching its progress. While we have the world to choose from, this is where we wish to site the facility.’
SIGN OF CONFIDENCE
‘Sembawang E&C’s participation amid the current economic environment is a clear signal of the tremendous potential of the Tianjin Eco-City.’- Mr Goh Chye Boon, the CEO of Sino-Singapore Tianjin Eco-City Investment and Development
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