Construction began on the Singapore Mapletree Lugu Industrial Park, a comprehensive industrial park project with modern service facilities, in Changsha Hi-tech Zone. Total funds invested in the park have reached 1.2 billion yuan ($190 million).

This project is funded by an investment by Mapletree Investments Pte Ltd, a wholly owned subsidiary of Temasek Holdings. Temasek, a Fortune Global 500 company, is an investment company based in Singapore.

The completion of the industrial park will boost the modern-service industry in Lugu, a high-tech industrial park in the western part of Changsha. The first phase of investment will raise 300 million yuan, while the second will bring in 900 million.

In attendance at the groundbreaking ceremony were He Jihua, deputy mayor of Changsha; Luo Shehui, secretary of the Party Committee of Changsha Hi-tech Zone; and Li Xiaohong, director of the Management Committee.

He Jihua said that the creation of Singapore Mapletree Lugu Industrial Park will play an important role in leading the development of production services in Changsha. Lugu is in need of a comprehensive industrial field with modern management, allocation, distribution, information and supply-chain systems. The park will be equipped to directly respond to customers’ logistics needs, he said. He added that Mapletree Investments Pte Ltd has great experience in commerce, industry and logistics, making it the best cooperation partner possible.

By Zhao Jia and Zhang Qiong

Source: Changsha Evening News