Singapore’s Singbridge Holdings has entered into an agreement set up a management company for the development of food zone in the province of Jilin, China.
Under the agreement, Singbridge will hold 40% in the joint venture, while Jilin City government's state-owned enterprise, Jilin Sino-Singapore Food Zone, will hold the remaining stake.
The JV will be known as called Sino-Singapore Jilin Food Zone Development and Management Company. It will have a registered capital of CNY100m ($16.16m).
The company will offer management and technical services relating to the development of the food zone, which spans 1,450km. It will also be involved in investment and promotion activities for the food zone.
This move comes after Singbridge and the Jilin City authorities signed an investment and cooperation agreement to jointly develop the premium food zone in September 2012.
Singbridge Holdings is a unit of Temasek, an investment company owned by the government of Singapore.
