Did Temasek just bailed out Keppel using Singbridge? Will this be another Suzhou for Singapore?
http://www.chinaknowledge.com/Newswires/News_Detail.aspx?type=1&NewsID=34961
Temasek's unit to invest RMB 2 bln in China knowledge city
Jul. 1, 2010 (China Knowledge) – Singbridge International, a subsidiary of Singapore's sovereign wealth fund Temasek Holdings, yesterday held a groundbreaking ceremony with Guangzhou municipal government for a joint-project "Sino-Singapore Guangzhou", a local Singaporean newspaper reported.
Pursuant to the joint project, Singbridge will invest RMB 2 billion in the "China Knowledge City", which is on the suburban area of Guangzhou city in southern China.
Goh Chok Tong, Singapore senior minister, and Wang Yang, party secretary of Guangdong Province, attended the groundbreaking ceremony.
Sino-Singapore Guangzhou, a 50:50 joint project between Singapore and China, first signed with Keppel Group in March 2009, after a feasibility study, the project got the go-ahead last July, and it was taken over by Singbridge last September, whose chairman Lim Chee Onn is former Keppel chairman.
An initial 6 square kilometers start-up area will be developed over the next three years, and a total 60 sq km will be covered upon the completion of the whole project construction. The start-up area will be home to a population of 77,000 and provide employment for 35,000 people.
The knowledge city will mainly serve for high-tech industries, research and development in the region. It is also expected to act as a catalyst for the further economic development of the rest for Guangdong.
"I am confident that the project will make a strategic contribution to Guangdong's next phase of economic development," said Goh.
Organizations that will contribute to projects in the city including National University of Singapore and Nanyang Technological University, Ascendas Group, IE Singapore, BCA International and RSP Architects.
http://www.chinaknowledge.com/Newswires/News_Detail.aspx?type=1&NewsID=34961
Temasek's unit to invest RMB 2 bln in China knowledge city
Jul. 1, 2010 (China Knowledge) – Singbridge International, a subsidiary of Singapore's sovereign wealth fund Temasek Holdings, yesterday held a groundbreaking ceremony with Guangzhou municipal government for a joint-project "Sino-Singapore Guangzhou", a local Singaporean newspaper reported.
Pursuant to the joint project, Singbridge will invest RMB 2 billion in the "China Knowledge City", which is on the suburban area of Guangzhou city in southern China.
Goh Chok Tong, Singapore senior minister, and Wang Yang, party secretary of Guangdong Province, attended the groundbreaking ceremony.
Sino-Singapore Guangzhou, a 50:50 joint project between Singapore and China, first signed with Keppel Group in March 2009, after a feasibility study, the project got the go-ahead last July, and it was taken over by Singbridge last September, whose chairman Lim Chee Onn is former Keppel chairman.
An initial 6 square kilometers start-up area will be developed over the next three years, and a total 60 sq km will be covered upon the completion of the whole project construction. The start-up area will be home to a population of 77,000 and provide employment for 35,000 people.
The knowledge city will mainly serve for high-tech industries, research and development in the region. It is also expected to act as a catalyst for the further economic development of the rest for Guangdong.
"I am confident that the project will make a strategic contribution to Guangdong's next phase of economic development," said Goh.
Organizations that will contribute to projects in the city including National University of Singapore and Nanyang Technological University, Ascendas Group, IE Singapore, BCA International and RSP Architects.
