Eco-friendly project will enable Tianjin Eco-City to consume less energy than those using conventional systems.
Keppel DHCS Pte Ltd (Keppel DHCS), a wholly owned subsidiary of Keppel Integrated Engineering Ltd, has signed a joint venture agreement with Tianjin Eco-City Energy Investment and Construction Co., Ltd (TECEIC) to provide district heating and cooling system (DHCS) in Sino-Singapore Tianjin Eco-City (Tianjin Eco-City), according to a Keppel report.
The joint venture, Tianjin Eco-City Keppel New Energy Development Co., Ltd. (TEC-Keppel), will be Keppel DHCS' first foray in China. TEC-Keppel will be 80% held by Keppel DHCS and 20% held by TECEIC, with a total investment amount of RMB million (S$ million). The joint venture company's registered capital of RMB million (S$ million) will be contributed by the parties in cash in proportion to their shareholdings upon approval by the authorities.
The joint venture follows the feasibility studies that Keppel DHCS has been conducting in Tianjin Eco-City since June 2009. TEC-Keppel will focus on the investment, development, design, construction, operation, maintenance and consultancy for DHCS, Tri-generation and other utility services in Tianjin Eco-City.
DHCS enables buildings to consume less energy than those using conventional systems and are therefore considered environmentally friendly. Its energy-efficient and space-saving attributes make it suitable and attractive to address the needs of city centres, large production plants, hospitals and property developments.
Mr Joseph Ng, Chief Executive Officer of Keppel DHCS, said, "We are very happy that Keppel DHCS' first foray overseas is for Tianjin Eco-City, a landmark project between China and Singapore.
"We are confident that this partnership will not only help Tianjin Eco-City meet its environmental targets, but also provide compelling cost-effective solutions to address the needs of its development."
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