Keppel sees S$100m from China job


  • Business
  • Wednesday, 27 Aug 2003

SINGAPORE: Keppel Corp, the city-state's largest diversified company, said its Chinese venture would be paid about S$100mil for providing maintenance services at an airport in Guangzhou. It plans to use this contract as a springboard for further investment in China. 

The venture, 25% owned by Keppel, would pursue other maintenance contracts for hospitals and schools in Guangzhou from the government and state-controlled companies, said Yick Ping Wong, managing director of Keppel Integrated Engineering, a unit of Keppel Corp.  

The company was also chasing contracts for maintenance services in Beijing, he said. 

Outsourcing “is growing within the region as people think it's more efficient'', Yick said in an interview. “China is a natural place for growth'' because the government is gradually letting go of central control. 

The Chinese state government is passing control of its civilian airports to local authorities, and also plans to almost double the number of commercial airports to 237 by 2010 as air travel increases in Asia's fastest growing economy. 

Excluding the 15-year Guangzhou airport deal, Keppel has S$130mil worth of contracts to provide maintenance services. – Bloomberg 

For another perspective from The Straits Times, a partner of Asia News Network, click here.

 

For more foreign business news click here

 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Space station mishap prompts NASA to postpone launch of Boeing Starliner
Rights group asks US customs to probe Goodyear Malaysia over labour practices
Money rolls in for Europe Inc as companies banish pandemic blues
Oil settles up, Brent tops US$76 as US supplies tighten more
Wall St gains with upbeat earnings and forecasts
Genetec says EV sector orders lifted Q1 earnings�
Singapore Airlines first-quarter loss narrows on cargo demand boost
Tough going for blue chips, Public Bank dips below key RM4
CGS-CIMB Securities launches two Shariah-compliant products
Public Mutual launches Public e-Pioneer Entrepreneur Fund

Stories You'll Enjoy


Vouchers