Key Projects of Singapore
Singapore Sports Hub achieved financial close in 2010 and is due for completion in April 2014. The Singapore Sports Hub Consortium, led by Dragages Singapore, won the contract and began using a design–build–finance–operate PPP model. The project will replace the National Stadium, providing a 55,000-seater stadium with a retractable roof, an aquatic centre, a multi-purpose indoor arena, a water sports centre and other commercial facilities. The concession will be held for a 25-year period.
TradeXchange improves logistics
The first IT public–private partnership undertaken by Singapore Customs will forge an integrated logistics information platform for the exchange of information within the trade and logistics community. A multi-agency initiative called the Economic Development Board and Infocomm Development Authority of Singapore led the scheme. The project was tendered in 2005 and awarded to CrimsonLogic, which will develop the software, as well as maintain and operate the system for ten years (2007–17). The platform will offer advantages such as simplified trade information exchange, faster trade documentation processing and reduced date errors.
Public–private partnerships were introduced in 2003, facilitated by the country’s well-established legal system, supportive banking sector and increasing bodies of PPP knowledge. Ten PPP projects have been completed and become operational so far. Singapore is appropriating public–private partnerships chiefly to inject more market discipline, attract foreign investment, source innovations and improve value for money, as opposed to the need for financing. Public services are relatively well provided with public–private partnerships offering further improvement. The first public–private partnership to reach completion was the Tuas Water desalination plant. Projects in consideration dominate the areas of sports facilities, student accommodation, water reclamation, incineration services and IT systems.