China, Singapore to build 100 bn yuan 'High-Tech' Zone

The construction of a 100-billion yuan (16 billion U.S. dollars) high-tech zone was jointly launched Tuesday in southwest China’s Sichuan province by the provincial government and a Singapore company. The Singapore-Sichuan High-tech Innovation Park, planned to cover 10.34 square kilometers and house 120,000 residents in Gaoxin district and Tianfu district in Chengdu, capital of Sichuan, is expected to attract an investment of 100 billion yuan from 2012 to 2020, the New China News Agency (Xinhua) reported. Under the guidance of Sichuan government authorities, the project will be operated by the Singapore-Sichuan company Sino-Singapore (Chengdu) High-Tech Innovation Park Development Company Ltd., with a registered capital of 297 million U.S. dollars, jointly invested by Singapore state-owned company Temasek Holdings and Chengdu High-tech Investment Group, said Tang Hua, deputy director of the development administration of Gaoxin district. Of the 100 billion yuan investment, 20 billion yuan (3.2 billion U.S. dollars) will be invested by the Sino-Singapore company, mainly for infrastructure construction, while the rest will come from global investors, Tang said.(QNA)