CFA Society Singapore
SINGAPORE (Dec 6): Keppel Urban Solutions, a wholly-owned subsidiary of Keppel Corp, has signed a memorandum of understanding (MoU) with Envision Group and Wuxi’s government to develop a “smart internet of things (IoT) City” in Xuelang Town, Taihu New City, Wuxi, China.
Adopting a city-industry integration model, Keppel and Envision plan to create a scalable and replicable model with a view to leading the development of the IoT industry and smart city transformation in China and other parts of the world.
Envision also intends to set up its global artificial intelligence and internet of things (AIoT) innovation centre in Taihu New City so as to “congregate global top talents and develop a leading IoT platform for smart cities” through innovative research and development.
In a press release jointly issued between Keppel Urban Solutions, Envision and the Wuxi government on Thursday, the three parties highlight their project’s aim to house high-technology industries in the fields of artificial intelligence and IoT, as well as vibrant, connected and liveable urban spaces for the community.
They also plan for the new smart IoT city to “serve as an exemplary integrated urban development and industrial transformation model for the future digital economy and IoT era”.
Going forward, Li Xiaomin, Member of the Standing Committee of the Jiangsu Provincial Committee of the Communist Party of China (CPC) and Party Secretary of the Wuxi Municipal Committee of the CPC, says he hopes all three parties will be able to build a successful landmark project by further refining the details of their co-operation post the MoU signing.
“The signing of the MOU by the three parties is a step in the right direction, and the prospects are very good… The Wuxi Municipal Committee of the CPC and Wuxi Municipal Government will focus their strengths and resources to provide quality government services to support its development and operation,” says Li.
Shares in Keppel closed 1 cent lower at $6.26 on Wednesday.