Keppel Telecommunications & Transportation has announced that its subsidiaries have recently secured new joint venture agreements.
The first agreement is between Keppel Jilin Logistics Park (Keppel Jilin) and the Jilin City government's Jilin Sino-Singapore Food Zone Development Co. The pair will jointly develop and operate the Sino-Singapore Jilin Food Zone International Logistics Park to serve the Sino-Singapore Jilin Food Zone.
The zone joint venture will be 70 percent held by Keppel Jilin and 30 percent by the Zone Development Co. Keppel Jilin will contribute 140 million yuan ($22.14 million) to the joint venture. The cash will come from Keppel T&T's existing borrowings and internal working capital.
As the sole food logistics park operator in the Food Zone, the joint venture will provide a single platform for trading, storage and distributing food products. The company will support temperature-controlled warehouses as well as offices and a transportation hub. Operations are expected to start in 2014.
At the end of 2011, the company also secured a second joint venture between its Keppel T&T and Securus Data Property Fund Pte. Ltd, establishing the “Securus Guernsey 2 Limited” company as the owner, manager, and operator of the Gore Hill Data Center Facility in Sydney, Australia.
Securus Guernsey 2, will be 70 percent held by Securus and 30 percent indirectly held by Keppel T&T through its subsidiary.
Keppel T&T is a service provider in Southeast Asia and Europe focusing on logistics and data center operations spanning 12 countries in those regions.