|
Four Singapore firms invest $83m in Tianjin
POSTED: 8:29 a.m. EDT, July 2,2007
Four Singapore companies this week unveiled logistics and waste-water treatment projects in the rising northeastern Chinese manufacturing hub of Tianjin, with total investment of about US$82.6 million.
The companies include Singapore-based logistics firm YCH Group, which yesterday opened a $16.2 million logistics park linked to Tianjin Airport. The 5.2ha park is its second facility in Tianjin in three years.
Located just 150km from the capital Beijing, Tianjin's port and sprawling industrial parks were earmarked two years ago by Beijing as the prime mover of growth in northern China.
Singapore companies have been quick to move into Tianjin, and Singapore is now the seventh-largest foreign investor there.
＾Our investment affirms our strong belief in Tianjin's growth potential,¨¨ YCH chairman and chief executive Robert Yap said, citing low start-up costs and municipal government incentives among other things.
Water company Hyflux is also set to emerge as a major player in the city, where observers say manufacturing-related services such as logistics, infrastructure design and utilities management are greatly in demand.
Hyflux will have a ground-breaking ceremony today for a waste-water treatment and water-recycling plant being built in Tianjin's Beichen district.
Two other Singapore companies active in China, SembCorp Utilities and logistics firm CWT, yesterday laid the groundwork for their first projects in Tianjin.
SembCorp Utilities has set aside $8.9 million as initial investment in a waste-water treatment plant in Lingang, a relatively new industrial area in Tianjin.
CWT is also all set to build a 110,000 sq m, five-storey warehouse and a 40,000 sq m container depot in Tianjin, worth $32.5 million. |
|
RELATED