The Honorable Minister for Industries, Tamil Nadu State Government, Mr Nainar Nagenthran;

Chairman & MD of TIDCO, Mr Rameshram Mishra;

Chairman of Ascendas, Mr Lew Syn Pau;

President & CEO of Ascendas, Ms Chong Siak Ching;

Distinguished guests;

Ladies and Gentlemen.

Introduction

1 I am pleased to join you at this topping-out ceremony for the International Tech Park Chennai (ITPC).

Technology- and Business- Friendly Chennai

2 Chennai, the capital of Tamil Nadu, is one of the fastest growing cities in India with all round capabilities. Apart from traditional industries, it also attracts a fair share of IT and biotechnology industries. Old Mahabalipuram Road, in particular, is the famed IT Corridor in Tamil Nadu. With the city offering a business-friendly environment, it not surprising to see a boom in hi-tech parks construction along this corridor.

A New Experience in Work Environment

3 More than just physical space, the International Tech Park Chennai (ITPC) will set the benchmarks for a new lifestyle at the park. With verve, vibrance and vitality, the ITPC will be positioned as a hip-and-happening place for some 6,000 IT professionals. Ascendas tells me that it is about work-play in motion, with extensive value-added features like al fresco dining, the latest retail concepts and a fully equipped gymnasium. Lush landscaping and artworks will complement the ITPC, making it an exciting and conducive place for all who works here.

4 I am glad that Ascendas and TIDCO have chosen each other as partners in this development. The well-established track record of Ascendas as Asia’s leading business space provider complements TIDCO’s strengths in drawing investments to Tamil Nadu state.

Singapore firms in India

5 I must also commend Ascendas for having the foresight to establish their flagship International Tech Park in Chennai. Together with the International Tech Park Bangalore and your Cyber Pearl in Hyderabad, this excellent new development in Chennai is another beacon of your strong presence in south India.

6 Ascendas has also brought together a Singapore team to pitch in for this IT park project. Quantity surveying works by KPK Consultants, Design & Build works by Tiong Seng Contractors and comprising Architects Team 3, Meinhardt Consultants and Buro Engineers.

7 The formation of Singapore firms into consortium to synergise their capabilities will stand them in good stead in their overseas ventures. By offering a wider and fuller range of construction-related services, and by further teaming up with local companies to exploit complementary strengths, the consortium approach provides ‘total solutions’ and significant competitive advantage.

Conclusion

8 This is my first official trip to India, and I am very impressed with the vibrancy and the pace of development in the cities I visited. Indeed, India is growing strongly. It is not difficult to project that India will in time develop into a world-class economy, with internationally acclaimed cities boosting of quality urban environment, and Chennai being one of them.

9 I have brought with me officials and 30-odd private sector representatives to India on this trip. One area where Singapore can contribute towards India’s development is in sharing our experiences in urban and housing development. I believe there is a basis for both countries to team up for mutual benefits, to cooperate and complement our strengths, and in the process, to build and deepen our relationship.

10 This trip has been a fruitful one, and I thank my Indian hosts for their excellent hospitality. My delegates tell me that they have found the trip useful and they are teaming up with Indian counterparts to share and learn from each other, to establish new business ties and build long-term partnerships.

11 On this note, I congratulate both Ascendas and TIDCO in their collaboration to bring to fruition the International Tech Park Chennai.

12 Thank you.

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