SINGAPORE - Listed construction firm Lian Beng Group is teaming up with listed dormitory provider Centurion Corp to build a 7,900 bed dormitory for foreign workers in Jurong East, not far from major industrial plants on Jurong Island.
The two companies said the proposed facility, which will also include a training centre, will provide better quality accommodation for Singapore's foreign workers.
They were selected to build the centre, in Jalan Papan, in the vicinity of Jurong East MRT station, by an entity set up by the Association of Process Industry.
Lian Beng will take a 49 per cent stake in the joint venture, while Centurion will hold the other 51 per cent. In their filings with the Singapore Exchange on Tuesday, the two firms did not disclose the cost of the project.
The process industry encompasses plants involved in the manufacturing of petroleum, petrochemicals, specialty chemicals and pharmaceutical products, and companies providing process construction and maintenance works to the plants.
The self-contained community with extensive recreational facilities and amenities will sit on about 1.5 ha, with a lease tenure of 23 years.
The development is scheduled to be completed by mid-2016 and is will have easy access to Jurong Island where most of its workers are expected to commute to for work.