Friday, September 7, 2012

Singbridge Holdings signs investment agreement with China's Jilin City

SINGAPORE: Singbridge Holdings, a subsidiary of Singapore investment firm Temasek Holdings, has signed an investment and cooperation agreement with China's Jilin City Government to develop a food zone in Jilin Province.

Separately, Temasek also inked a memorandum of understanding with the Jilin Provincial Government to further explore investment and collaboration opportunities in Jilin Province.

According to a statement from the Ministry of National Development (MND), the signing ceremony for both agreements was conducted in Beijing on Thursday and witnessed by Singapore Prime Minister Lee Hsien Loong and Chinese Premier Wen Jiabao.

Together with its partners, Singbridge will jointly develop an integrated and sustainable food zone in Yongji Country of Jilin Province. Key investments in the food zone will include infrastructure, agriculture, food processing and manufacturing, and agriculture and food technology.

The food zone spans 1,450 square kilometres with a core area of 57 square kilometres. To date, three square kilometres of the core area has been developed by the Jilin City Government.

Meanwhile, the Agri-food and Veterinary Authority of Singapore (AVA) has been advising the Jilin City authorities on the setting up of the foot-and-mouth-disease-free zone.

This has helped the food zone to receive the Food and Mouth Disease Free Zone certification from China's Ministry of Agriculture.

The AVA's consultancy arm is also working with the local authorities to build a robust food safety system at the food zone.

This will enable the export of disease-free and safe products from the food zone to Singapore and other international markets.

MND said it was pleased that the food zone project in Jilin Province had made good progress.

"Our private sector has taken the lead to drive this project and several companies have successfully negotiated commercial deals at the food zone," said MND.

Besides the agreement with Singbridge, companies which had earlier negotiated commercial deals in the food zone include: Singapore Food Industries' joint venture to develop an integrated pig farm; Jurong Consultants' completion of the urban planning and design of the food zone core area; and a joint venture by Keppel Telecommunications & Transportation's subsidiary to develop and operate a logistics park.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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