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SINGAPORE: JTC Corporation plans to set up an Offshore Marine Centre and a Med Tech cluster, all part of moves to attract more investments into Singapore.
JTC announced this at its 2009 Annual Report conference on Monday, September 6.
The Offshore Marine Centre project will offer companies common facilities along the waterfront and help optimise the use of Singapore's scarce waterfront land.
The Centre, to be completed by next year, will be located in Tuas.
There are also plans to put all leading Medical Technology industries together in a Med Tech cluster which will be located in Tukang Innovation Park.
Phase 1 of the project, to be completed by 2013, will yield 75,000 square metres of space.
The entire cluster will yield 185,000 square metres of space, when fully developed.
The cluster aims to support a projected S$5 billion worth of medical equipment manufacturing in Singapore by 2015.
Some of the other initiatives JTC is exploring include a General Aviation Centre, a Biologics Facility, a Surface Finishing Complex for the precision engineering cluster and land optimisation solutions such as small footprint standard factories.
JTC says these concepts will benefit companies.
Manohar Khiatani, CEO of JTC Corporation, said, "The main thing will be in terms of shared facilities, that they will not need to invest in all these facilities on their own. There will be a common service provider for that, so they will not need to do that.
He added, "They can also take up less space. And for Singapore, it will be beneficial because we will be able to optimise our land use."
JTC also plans to boost productivity and speed in the construction industry.
"The other area we are looking at is how we can shorten construction time for industrial facilities in Singapore. And this will be a combination of technologies, whether it's a more pervasive use of pre-cast and so on, as well as in processes, how can we optimise processes so that the time can be shortened further, and resulting in competitiveness for the industry," Khiatani said.
These initiatives are part of JTC's move to reposition itself as an Industrial Infrastructure Innovator.
This means that besides being efficient, JTC also realised the need to provide innovative infrastructure solutions.
This includes optimising land-use and addressing environmental sustainability, while providing a competitive advantage for industries
JTC made the comments at its annual report conference. It said the previous financial year was a year of two halves, with the second half doing much better and bringing the year to a healthy close.
JTC reported that its surplus for the full year ended March 31 fell to S$656.2 million from $914 million a year ago.
This came on the back of a decline in group revenue to about S$1.8 billion from S$1.9 billion in the previous year.
JTC added that the net allocation of prepared land in fiscal 2009 was 110.1 hectares, a 9 per cent increase from the 100.1 hectares in fiscal 2008.
-CNA/wk/fa
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