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NANJING, CHINA: A consortium of Singapore companies will jointly develop another eco high-tech city in China.
The groundbreaking ceremony for the Singapore-Nanjing Eco High-Tech Island was held on Monday morning, officiated by Singapore's Deputy Prime Minister Wong Kan Seng.
The US$50.5 billion project also marks Nanjing City's largest foreign collaborative development.
A stone's throw away from Nanjing's city centre is Jiangxinzhou which sits in the middle of the Yangtze River.
Jiangxinzhou is where the new Eco High-Tech Island will be built.
The Eco High-Tech Island will be developed by Singapore Intelligent Eco Island Development and Nanjing Jiangdao Investment & Development Company.
The Singapore Intelligent Eco Island Development is a joint venture company formed by Yanlord Land Group, Sembcorp Industrial Parks and Surbana Land.
The joint venture will hold a 50% stake in the "Sino-Singapore Nanjing Eco High-Tech Island" with Nanjing Jiangdao Investment & Development Company.
Each company brings its own unique brand to the island's development.
Zhong Sheng Jian, chairman & CEO of Yanlord Land Group, said: "Besides our vast experiences, our main expertise will continue to be concentrated on the development of commercial, real-estate and industrial projects."
Low Sin Leng, executive chairman of Sembcorp Industrial Parks, said: "We will ensure that we will optimise the use of water and power and maintain high stringent standards in terms of waste water management and emission control as well as tapping on our experience into using waste into resources."
Tan Thai Hong, group CEO of Surbana Corporation, said: "The mix of business, industrial and recreational facilities of living environment must be thought through right from the beginning and religiously controlled throughout the process and it is precisely in this that Surbana has this expertise."
The first phase of the eco high-tech island is expected to be completed in 2020.
Spanning an area of about 6 million square metres, it will house commercial, industrial and residential complexes.
- CNA/ir
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