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May 6, 2010
Mah: Eco-city doing well
Investments surge in Sino-S'pore project as China economy booms
<!-- by line -->By Grace Ng, China Correspondent
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Mr Mah (centre), eco-city administrative committee vice-chairman Cui Guangzhi (left) and China's Housing and Urban-Rural Development Vice-Minister Qiu Baoxing at the National Animation Centre construction site yesterday. -- PHOTO: LIANHE ZAOBAO
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TIANJIN - INVESTMENT in the Tianjin Eco-city has accelerated over the past year as the Chinese economy has roared out of the global economic downturn, according to Minister for National Development Mah Bow Tan.
Speaking yesterday on the second day of a three-day visit to the 50 billion yuan (S$10.2 billion) project, Mr Mah disclosed that the development expects to welcome its first inhabitants next year.
And although the Sino-Singapore joint venture project still has kinks to iron out in areas such as green public transport, it has already made 'so much progress in such a short time', Mr Mah told reporters, following a meeting with the Singapore-Tianjin Eco-city committee to review progress.
Mr Mah, who was accompanied by Senior Minister of State for National Development and Education Grace Fu and officials from the Ministry of National Development and other ministries, recalled that when he last visited northern China's port city of Tianjin a year earlier, there had been concern that the financial crisis would stall investment in the project.
'Little did I know at that time that it would pick up so fast,' he said, pointing to three new business agreements inked yesterday between the eco-city's developers and investors - including Malaysian property developer Sunway, Japanese tech giant Hitachi and Singapore's ST Electronics.
The three agreements will pump more than one billion yuan into constructing new projects such as eco-friendly homes and manufacturing facilities, state news agency Xinhua reported yesterday.
Read the full story in Thursday's edition of The Straits Times.
Mah: Eco-city doing well
Investments surge in Sino-S'pore project as China economy booms
<!-- by line -->By Grace Ng, China Correspondent
<!-- end by line -->
<!-- end left side bar -->
<!-- story content : start -->
TIANJIN - INVESTMENT in the Tianjin Eco-city has accelerated over the past year as the Chinese economy has roared out of the global economic downturn, according to Minister for National Development Mah Bow Tan.
Speaking yesterday on the second day of a three-day visit to the 50 billion yuan (S$10.2 billion) project, Mr Mah disclosed that the development expects to welcome its first inhabitants next year.
And although the Sino-Singapore joint venture project still has kinks to iron out in areas such as green public transport, it has already made 'so much progress in such a short time', Mr Mah told reporters, following a meeting with the Singapore-Tianjin Eco-city committee to review progress.
Mr Mah, who was accompanied by Senior Minister of State for National Development and Education Grace Fu and officials from the Ministry of National Development and other ministries, recalled that when he last visited northern China's port city of Tianjin a year earlier, there had been concern that the financial crisis would stall investment in the project.
'Little did I know at that time that it would pick up so fast,' he said, pointing to three new business agreements inked yesterday between the eco-city's developers and investors - including Malaysian property developer Sunway, Japanese tech giant Hitachi and Singapore's ST Electronics.
The three agreements will pump more than one billion yuan into constructing new projects such as eco-friendly homes and manufacturing facilities, state news agency Xinhua reported yesterday.
Read the full story in Thursday's edition of The Straits Times.
