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Sino-Singapore Tianjin Eco-City signs MOU with first business partner for US$1 billion project
enorth.com.cn   2009-08-18 16:02

 
Sino-Singapore Tianjin Eco-City signs MOU with first business partner for US$1 billion project
CEO of SSTEC, Mr Goh Chye Boon and President & CEO of Sembawang Engineers & Constructors, Mr Richard Grosvenor with Tianjin Mayor, Mr Huang Xingguo and Director-General of Tianjin Binhai New Area Administrative Committee, Mr Gou Lijun after signing the MOU.

Sino-Singapore Tianjin Eco-City Investment and Development Co., Ltd (SSTEC) has signed a Memorandum of Understanding (MOU) with Sembawang Engineers & Constructors Pte Ltd (Sembawang) to work on the feasibility study for the development of a US$1 billion solar polysilicon production plant in the Sino-Singapore Tianjin Eco-City (Tianjin Eco-City).

To be located in the Tianjin Eco-City’s northern manufacturing “Eco-Silicon Valley” zone, the solar polysilicon production plant will occupy an initial 15 ha of land with the option to take up an additional 10 ha at a later stage.

With a successful launch of the project, Sembawang will act as a project sponsor and developer of the plant and will lead a consortium of private investors to fund the development.

The production plant will be developed in stages. The initial facility has a capacity of 5,000 metric tonnes per annum with the option to expand annual production by 2,500 tonnes after 2012, in the second phase of the project. The production plant will create about 500 direct jobs.

Mr Goh Chye Boon, CEO of the proposed SSTEC Investment & Development said, “We are excited to welcome Sembawang, our first business partner, to the Tianjin Eco-City. Sembawang shares our vision of a sustainable future. Sembawang’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.

“Sembawang’s participation amidst 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 higly attractive investment opportunity for companies that are looking for long term sustainable growth.”

Richard Grosvenor, President and CEO of Sembawang 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 Sembawang’s 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.”

This new polysilicon plant will utilise top of the line technology with leading international supplier of technology and services for the manufacture of solar polysilicon. The plant will also employ a closed loop system so that any pollutants from the production process will be properly treated before being discharged into the surrounding environment.

SSTEC is the master-developer for the Tianjin Eco-City. Currently being incorporated, it is a 50/50 joint venture of 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. It is located in the Tianjin Binhai New Area, the focal point for the acceleration of growth in the Bohai Rim, China’s powerhouse for business, science, technology and culture in the 21st century.

With its strategic location, the Tianjin Eco-City is poised to realise its vision to be the financial hub in the Bohai Rim, a centre of excellence for management, technical and specialised skills training and a key node for eco-activities and businesses. These eco-activities will involve companies that provide services in green financing, energy efficiency consultancy and eco-solutions.

It will also be an oasis of quality eco-homes and a prestigious address for high-valued added services such as education, healthcare and urban solutions.

Sembawang Engineers & Constructors Pte Ltd (Sembawang) is one of the largest engineering and construction groups in Southeast Asia. Sembawang has a strong global presence with offices worldwide and it specialises in handling a diverse spectrum of technologically challenging and complex projects in the niche areas of mega infrastructure, high-rise building and utilities works such as power and water plants.

With more than 3,000 employees worldwide, Sembawang has been involved in many global projects and has played a key role in the national development of Singapore. This includes the construction of Singapore’s Changi International Airport, the Mass Rapid Transit Systems (MRTs), iconic buildings, leisure and industrial developments. Ongoing major projects include Singapore’s Marina Bay Sands and Resorts World integrated resorts and Bahrain’s prestigious villa development Riffa Views.

Sembawang is a wholly owned subsidiary of Punj Lloyd Limited a leading engineering and construction group based in New Delhi and listed on the National and Bombay stock exchanges of Mumbai. The Punj Lloyd Group, with a global network spanning five continents, provides integrated design, engineering, procurement, construction and project management services for the energy, infrastructure and petrochemical sectors.


Editor:
 

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