Keppel Integrated Engineering (KIE), a wholly-owned subsidiary of Keppel Corporation Limited, is pleased to announce that it signed an agreement to form a joint venture company, Tianjin Eco-City Environmental Protection Co., Ltd. (TECEP) with Tianjin TEDA Co., Ltd. (Tianjin TEDA Co.) and Tianjin Eco-City Investment & Development Co., Ltd.(TECID Co.).

The joint venture company, TECEP, will be 55% held by Tianjin TEDA Co., 25% held by TECID Co. and 20% held by KIE. The joint venture company’s registered capital of 100 million RMB will be contributed by the parties in cash in proportion to their shareholdings upon approval by the authorities.

TECEP will focus on the investment, construction and operation of infrastructure for environmental protection, and is expected to provide urban environmental management, pollution treatment and environmental restoration and improvement in the Sino-Singapore Tianjin Eco-City (SSTEC). TECEP will also develop and provide solutions for green energy and environmental protection.

Keppel Corporation Limited is leading the Singapore Consortium for the Sino-Singapore Tianjin Eco-City.

Ms Audrey Toh, CFO of KIE and Board member of TECEP, said, “With environmental protection as one of the key thrust of SSTEC, this partnership allows KIE to contribute to the sustainable development of SSTEC. KIE’s established track record, expertise and proprietary environmental technology will position the partnership in good stead to capture opportunities in the SSTEC.

“This partnership also deepens and strengthens the relationship between Tianjin and us and allows KIE to enhance its leadership position in China.”

To date, KIE has 60% of the imported waste-to-energy market in China and is involved in the development of waste-to-energy plants in Suzhou, Changshu, Shenzhen, Tianjin, Jiangyin and Guangzhou.

KIE, with its best in class solid waste treatment and water technologies, is a market leader in environmental solutions and services and has more than 650 reference projects globally.

The aforementioned joint venture is not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the financial year ending 31 December 2008.

Keppel Integrated Engineering (KIE)

KIE is the environmental technology and engineering division of Keppel Corporation Limited, a leading company in Singapore listed on the Singapore Exchange Securities Trading Limited.

Keppel Seghers, a member of the KIE Group, is a leading provider of comprehensive environmental solutions, including alternative energy, ranging from consultancy, design and engineering, technology and construction to operation and maintenance of facilities.

With a global footprint in more than 25 countries, KIE provides technology and fulfillment services for the treatment of municipal solid waste, hazardous and medical waste, wastewater and sludge treatment, potable water, desalination and home filtration systems.

To date, KIE has more than 350 water and wastewater projects and more than 300 thermal waste treatment solutions projects worldwide. KIE continues to actively pursue thermal waste treatment, water and wastewater treatment projects globally.

For further information, please contact

Mr Ang Lai Lee
Senior Executive
Group Corporate Communications
Keppel Corporation Limited
Tel: (65) 6413 6427 / (65) 82339299
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