Tianjin Eco-City to have green CBD
CHINA’S Tianjin Eco-City will have a ‘first-of-its-kind’ green central business district (CBD), the company leading the Singapore consortium involved in the project said yesterday.
Keppel Corp, which heads the Singapore consortium, said the consortium’s joint venture company – Sino-Singapore Tianjin Eco-City Investment and Development (SSTEC) – has signed a memorandum of understanding with Samsung C&T Corporation to create the Eco-CBD.
The Singapore consortium has a 50 per cent stake in SSTEC. The other half is held by Tianjin TEDA Investment Holding Co.
The Eco-CBD project is ‘a first step that will create a platform for collaboration with other partners and eco-companies’, Keppel said. The Eco-CBD will be a sustainable and vibrant live- work-play hub.
The MOU is not expected to have material impact on Keppel Corp’s net tangible assets or earnings per share for the current financial year, the company said.
Tianjin Eco-City is a major bilateral project between China and Singapore, with private-sector investment and development.
The 30 sq km project, in the Tianjin Binhai New Area, 40km from Tianjin city centre, will house 350,000 people.
The 4 sq km start-up area includes 26,500 dwellings, with the first residents expected to move in around 2011.
Source : Business Times – 2 Dec 2009
