Keppel unit forms JV to provide urban planning services in Shandong, China

A UNIT of global asset manager Keppel has entered a joint venture (JV) to provide consulting services – such as urban planning, industrial promotion and smart city solutions – to a large-scale integrated project in Jinan, in China’s Shandong province.

The JV was formed between Keppel Smart City (Tianjin) Data Technology and Jinan Pioneer Investment Group, Keppel said on Monday (Jul 29).

Keppel Smart City will subscribe for a 49 per cent stake in the JV for for 4.9 million yuan (S$913,360), while Jinan Pioneer will take the remaining 51 per cent stake for 5.1 million yuan.

The transaction is not expected to have any material impact on Keppel’s earnings per share for the current financial year. Keppel ended Monday at S$6.54, down 0.6 per cent.