13 Feb '12, 9am

Rolls-Royce set to contribute S$1.7b to S'pore's GDP with new facility

Rolls-Royce set to contribute S$1.7b to S'pore's GDP with new facility

SINGAPORE: Singapore crossed a milestone in its effort to become a leading aviation hub, with the opening of Rolls-Royce's largest facility in Asia. The facility at Seletar Aerospace Park costs S$700 million. The 65,000-square meter campus includes a training unit and a research and development facility. It's for Trent engine assembly and test, training, research and development, as well as wide chord fan blade manufacturing. With this investment, Rolls-Royce is projected to contribute some S$1.7 billion (0.5 per cent) to Singapore's Gross Domestic Product by 2015. The move is set to create some 500 jobs. Prime Minister Lee Hsien Loong said: "Asia's aviation industry is expected to see strong growth," "Over the next two decades, Asia's fleet is expected to triple. And as a share of global fleet, Asia's fleet will also rise from less than a quarter now, to more than a third...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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