Keppel unit enters JV to offer consulting services in Shandong, China

It will provide urban planning, industrial promotion, and smart city solutions for the project.

Keppel Ltd has entered into a joint venture with Jinan Pioneer Investment Group Co., Ltd. via its subsidiary, Keppel Smart City (Tianjin) Data Technology Co., Ltd, to offer consulting services for a large integrated project in Jinan, Shandong province.

The new joint venture will provide consulting services, including urban planning, investment strategies, industrial promotion, and smart city solutions for the project.

Keppel Smart City will hold a 49% stake, investing RMB4.9m ($913,360), whilst Jinan Pioneer will own 51%, contributing RMB5.1m ($950,640). 

Half of the investment is due by 30 August, with the remainder to be paid by 31 December.

The transaction is not expected to materially affect Keppel Ltd’s net tangible assets or earnings per share for the current financial year.