SINGAPORE - Two Singapore logistics companies have signed deals in Nanjing to provide services in smart logistics and logistics management, said International Enterprise (IE) Singapore on June 30.
Mapletree and SSinolog both inked a memorandum of understanding (MOU) at the fifth Singapore-Nanjing Special Projects Cooperation Panel (SNCP) meeting in Nanjing, Jiangsu province, aimed at meeting rising consumer demand and e-commerce spend in Nanjing.
SSinolog is investing US$180 million (S$243 million) to develop the Sin-Sino Nanjing Lishui High-Tech Logistics Park, a facility that will be equipped with intelligent logistics hardware to ensure fast import clearance and export processing, said IE Singapore.
Mapletree Logistics and Liuhe Economic Development Zone Administrative Committee are putting in US$110 million to develop the Mapletree Modern Logistics Park in Liuhe district. The park will provide high-tech logistics management services and real estate spaces targeted at e-commerce, and cold chain logistics operators in northern Nanjing.
Another MOU was signed at the SNCP meeting between Singapore Nanjing Eco Hi-Tech Island Administrative Committee, Singapore Nanjing Eco Hi-Tech Island Development Co, and Singapore-based medical group Luye Medical Group.
Luye Medical Group will develop a high-end integrated hospital on the Singapore Nanjing Eco Hi-Tech Island to provide private healthcare for residents on the island.
The meeting, co-chaired by Senior Minister of State for Trade and Industry & National Development, Dr Koh Poh Koon, and Nanjing Mayor Mr Miao Ruilin, was led by IE Singapore and attended by 40 Singapore business representatives.
"Singapore has consistently been Nanjing's top three largest foreign investor country in the past five years," noted Dr Koh.
"As we build our ties and explore new partnerships, logistics is a key complementary area we are looking at. This is in line with our Logistics Industry Transformation Map, where Singapore companies are encouraged to deepen capabilities and build exportable business models for overseas growth."
Dr Koh added that the projects by Mapletree and SSinolog show how logistics players can ride technological knowhow to seize new opportunities.