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KEPPEL Corp has entered into multi-layered joint ventures to help build the Sino-Singapore Tianjin Eco-City.
The group and its subsidiary Keppel Land will take up 65 per cent and 35 per cent stakes respectively in each of Keppel Group Eco-City Investments Pte Ltd (KGECI) and Substantial Enterprises Limited (SEL).
KGECI and SEL will, in turn, hold equal interest in Singapore Tianjin Eco-City Investment Holdings Pte Ltd (STEC) - the Singapore consortium company involved in an equally-owned joint venture with the Chinese consortium, as the masterplan developer of Tianjin Eco-City.
This joint venture is known as Sino-Singapore Tianjin Eco-City Investment and Development Co Ltd (SSTEC).
Keppel Corp is the Singapore entity leading the Singapore consortium. It will have a direct interest of 45 per cent in KGECI, and the other 20 per cent stake will be held through its wholly-owned subsidiary, Keppel Integrated Engineering (KIE).
For SEL, Keppel's 45 per cent stake is held through KepVenture Pte Ltd and the other 20 per cent stake through KIE.
Keppel Corp and Keppel Land announced recently that they are co-investing a combined 705 million yuan (S$158.4 million) to develop a site in the Tianjin Eco-City park in China.
Keppel Land is appointed the project manager for the development of the 36.8-hectare site, which will be carried out in phases.
The site, which is at masterplan development stage, is expected to yield about 5,000 homes in total, as well as commercial developments, including office and retail, with a total gross floor area of about 680,000 square metres.
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