Singapore-26 Feb 2010 Sino-Singapore Tianjin Eco-City Investment and Development Co., Ltd. (SSTEC) celebrates another milestone of its Eco-Industrial Park (EIP) today by signing on several Singapore investors to launch eco-manufacturing operations in Tianjin Eco-City. They will be the first investors in the EIP.
The first of its kind in China, the EIP will occupy approximately 130 hectares of land northern part of the Tianjin Eco-City and create a self-sustaining business community. Capitalising on the strategic positioning of the Eco-City, it will attract global clean technology and industries, and form green business clusters such as Clean Energy, Green Building, Green Transport, Clean Water, Waste Management and Environment Management. When fully completed, the Eco-Industrial Park is expected to create over 10,000 blue and white collar jobs which will attract new residents and generate economic spin-offs.
With an estimated total investment of RMB 4 billion when fully completed in five to six years, the EIP is expected to be the base for global eco-businesses in the Bohai Rim. The EIP will serve China’s growing needs for clean technologies and sustainable urban solutions. Using EIP as a base, companies can look forward to tapping on opportunities in eco-businesses in fast-growing Tianjin Binhai New Area (TBNA) and Northern China.
Strategically located next to the major highways that link the Eco-City to Tianjin Port, Tianjin Airport, Tianjin City and Beijing, the EIP will be the first of its kind eco-industrial park in China built completely in compliance to Eco-City’s green building evaluation standards, a system that draws the best standards from Singapore’s Green Mark standards and China’s Green Star standards.
The signing ceremony in Singapore was officiated by Mr. He Lifeng, Deputy Secretary of the CPC Tianjin Municipal Committee, Director-General of TBNA Administrative Committee and Chairman of SSTEC, together with distinguished guests from the Singapore Ministry of National Development, Sino-Singapore Tianjin Eco City Administrative Committee (ECAC), senior management of Keppel Group and SSTEC. Together, they expressed confidence for the investment potential of EIP and encouraged more Singapore and foreign investors to invest in Tianjin Eco-City.
“The Eco-Industrial Park will be the booming eco-manufacturing hub of the Tianjin Binhai New Area,” said Mr Goh Chye Boon, Chief Executive Officer of SSTEC. “Eco-City is a natural adoption ground for eco-technologies and solutions. Together with favourable policies and investment environment, fast-growing Tianjin Binhai New Area is where eco-businesses serious in expanding their operations in China should look at. We are happy that these Singapore companies will be the first batch of investors in the industrial park to create jobs for the future residents of the Tianjin Eco-City.” he added.
SSTEC signed a Letter of Intent with Pan Asian Water Solutions Limited (PAWSL), a catalyst-listed company in the Singapore Stock Exchange. The company plans to site its China headquarters in Tianjin Eco City and consolidate its existing quality pipe and valve manufacturing operations in the EIP, with activities including a global logistics and warehousing hub, clean environment value-added processing of piping products and accessories, R&D centre for Duvalco valves, fittings and other products, brand building and marketing for Duvalco products, control centre for global trading activities and manufacturing of selective products that match Eco-city’s demands. PAWSL plans to invest an estimated RMB100 million in the EIP over a timeframe of 2 years.
Chief Executive Officer of PAWSL Mr Eddie Koh said, “The Eco-City offers one of the best business friendly environments we have seen so far, both the developer and the local authority had been proactive to make sure our interests are taken care of. Setting up a base here would enable us to expand into new areas of businesses and at the same time to further improve our value add to our existing customers. We believe that our shareholders’ interests would be safely protected here. In addition, the Eco-City’s environmental theme is in line with the Company’s direction. We are very excited to be among the pioneer investors here”.
The entry of these Singapore investors such as PAWSL came about with the proactive facilitation of International Enterprise (IE) Singapore, the lead agency promoting the overseas growth of Singapore-based enterprises and international trade.
Said Mr Tham Poh Cheong, Group Director for Infrastructure, Environment and Engineering, IE Singapore, “Singapore's response to the scarcity of natural resources has resulted in the sustainable city model that we are today. Singapore-based private sector companies have the necessary expertise to support similar development efforts in other markets. PAWSL is one such company with the capabilities to contribute to the success of the Tianjin Eco-City and IE Singapore is glad to have played a role in bringing about their partnership with the SSTEC."
In addition, SSTEC signed a Letter of Intent with PV World Pte Ltd (PVW), a Singapore-based manufacturer of wafer-based photovoltaic solar modules. PVW shall invest an estimated total investment of RMB500 million for a 240MWp solar module manufacturing facility sited within the EIP. The facility will be developed in three stages with first-stage production expected to commence in 2012.
Said Mr. Loh Lean Chooi, Managing Director of PVW, “With the strong support from SSTEC and the well planned development of the Eco city, we are confident our investment will have great potentials in the future.”
The cluster development of eco-industries for the Eco-City and generation of job opportunities shall act as an impetus for the development of residential, amenities and services in the Eco-City to cater to residents and workers in the Eco-City. It will also create demand for residential property especially affordable public housing in the Eco-City. These factors shall enhance Eco-City’s position as an eco-manufacturing hub for North China and serve as a showcase of Sino-Singapore collaboration.
