Sino-Singapore Tianjin Eco-City Investment and Development Co., Ltd. (SSTEC) reached another important milestone of its developmental plan today by bringing on board several Singapore companies as partners to launch its first eco-business park.

With an estimated total investment of RMB2 billion when fully completed in five to six years, the Eco-Business Park is expected to be the base for global eco-businesses in the Tianjin Binhai New Area and the Bohai Rim. This is to serve Northern China’s growing need for clean technologies and sustainable urban solutions.

The first of its kind in China, the Eco-Business Park will occupy approximately 30 hectares of land in the Tianjin Eco-City’s Start-Up Area and create a 24/7 vibrant and self-sustaining business community. Capitalising on the strategic positioning of the Eco-City, it will attract global clean technology and green R&D companies as well as high value-added services such as business process outsourcing (BPO) companies which have low carbon footprint. When fully completed, the Eco-Business Park is expected to create over 15,000 white collar jobs which will attract new residents and generate more economic spin-offs.

The groundbreaking ceremony of the Eco-Business Park today was officiated by Mr Mah Bow Tan, Singapore’s Minister for National Development and Mr Huang Xingguo, Mayor of Tianjin Municipality. Also present were Ms Grace Fu, Singapore’s Senior Minister of State for National Development and Education, Mr Qiu Baoxing, China’s Vice Minister of Housing and Urban-Rural Development, Mr He Lifeng, Deputy Party Secretary of the CPC Tianjin Municipal Committee and other dignitaries.

SSTEC signed a Memorandum Of Understanding (MOU) with Ascendas, Singapore’s premier international business space solutions provider, to explore collaboration on the planning, co-development and marketing of the Eco-Business Park. The proposed collaboration is expected to tap on Ascendas’s proven expertise and quality track record in the development of business parks in Asia, particularly in China and India.

“The Eco-Business Park will be the booming service hub of the Tianjin Binhai New Area,” said Mr Goh Chye Boon, Chief Executive Officer of SSTEC. “It will provide top facilities for world-class eco companies. Investors are drawn to the Eco-City by the favourable policies and environment of the fast growing Tianjin Binhai New Area and this is evident by the Singapore companies that have come on board as our partners to shape the future of this green-field city,” he added.

SSTEC also signed an MOU with PV World (PVW), a Singapore-based manufacturer of wafer-based photovoltaic solar modules, to jointly develop the first multi-tenanted landmark building in the Eco-Business Park. Valued at about RMB350 million, the landmark building is expected to be completed by early 2011 and achieve a LEED-Silver rating.

In a clear signal of continued investor confidence in the Tianjin Eco-City, PVW signed a separate investment MOU with SSTEC, for a 240MWp solar module manufacturing facility with an estimated total investment of RMB600 million. To be located in the Eco Silicon Valley in the north of the Tianjin Eco-City, the facility will be developed in three stages with first-stage production expected to commence in 2012. PVW is also considering the setting up of a solar module research facility in the Eco-Business Park.

Said Mr Loh Lean Chooi, Managing Director of PVW, “The concept of an eco-city fits perfectly with our long-term strategy of working in areas related to clean energy and the green environmental sectors. Despite the economic downturn, we have full confidence in investing in the Tianjin Eco-City. With our trust and familiarity with the Singapore system and the Chinese Government’s push to revive the economy and their emphasis on solar energy, where else can one choose to invest if not in the Eco-City where the two “Dragons” have committed fully to ensuring its success?”

SSTEC also signed a MOU with First DCS Pte. Ltd. (FDCS) to jointly study the feasibility of introducing district heating and cooling systems (DHCS) to support the energy requirements of the Eco-Business Park. FDCS is a pioneer and leading district cooling service provider in Singapore and one of the largest in Southeast Asia. DHCS is widely used by businesses and industrial parks worldwide as an eco-friendly energy efficient solution, which is in line with the Eco-City’s vision to be sustainable and environmentally-friendly.

Chief Executive Officer of FDCS, Mr Joseph Ng said, “DHCS is the leading solution to energy efficiency in building developments today. With FDCS’s experience in DHCS and in collaboration with our Japanese technology partner, we will work together with SSTEC to provide a solution that is sustainable, cost effective and eco-friendly.”

About Sino-Singapore Tianjin Eco-City (SSTEC)

SSTEC is the master developer for the Tianjin Eco-City. Currently being incorporated, it is a 50/50 joint venture between the Chinese Consortium led by Tianjin TEDA Investment Holding Co., Ltd (Tianjin TEDA) and the Singapore Consortium led by the Keppel Group.

The Tianjin Eco-City is a landmark bilateral project between China and Singapore with private-sector investment and development. Located in the Tianjin Binhai New Area (40 km away from Tianjin city centre), the 30-sq km Tianjin Eco-City is envisioned to create a harmonious and sustainable community that meets the needs of an urbanising China and will be a modern township where 350,000 residents can live, work and play.

When completed, the 4-sq km Start Up Area will be home to 26,500 households, with the first batch of residents expected to move in around 2011.

Source: Keppel

Editor:Guo Changdong