S’pore to invest up to $20b in infrastructure projects this year

Updated: 23rd March 2009, 1000 hrs / 93.8 Live

Singapore will be investing as much as $20 billion in infrastructure projects this year to prepare for recovery and growth.

Senior Minister of State for National Development, Grace Fu, said the projects include the construction of a new International Cruise Terminal at Marina South,
new roads and parks, and the upgrading of schools, sports facilities and our public housing estates throughout Singapore.

She told an industry summit that these investments are not a once-off effort.

In 2010 and 2011, the government will continue to invest another $15 to $17 billion each year in building and infrastructure projects.

The goal is to build Singapore as a distinctive global city, a key node within a network of cities around the world.

Ms Fu said Singapore will be remade within the next five to ten years.

It will be a new city thriving with new opportunities.