JTC Corporation

JTC Corporation

Logo of JTC Corporation
Agency overview
Formed June 1, 1968
Preceding agency
  • Jurong Town Corporation
Headquarters The JTC Summit, 8 Jurong Town Hall Road, Singapore 609434
Agency executives
  • Dr Loo Choon Yong, Chairman
  • Png Cheong Boon, Chief Executive Officer
Parent agency Ministry of Trade and Industry (Singapore)
Website www.jtc.gov.sg

JTC Corporation (Abbreviation: JTC; Chinese: 裕廊集团; pinyin: Yùláng Jítuán), formerly known as Jurong Town Corporation, is a Singaporean state owned real estate company and statutory board under the Ministry of Trade and Industry headquartered in Jurong, Singapore. Established in 1968, the company was set up by the Government of Singapore as the country's principal developer and manager of industrial estates and their related facilities.[1] As of 2013, the company manages 43 estates that cover 7,100 hectares of land area.[2]

History

The JTC Summit, headquarters of JTC Corporation, located in Jurong, Singapore.

Founded on June 1, 1968 under the Jurong Town Corporation Act, JTC was set up to take over the management and development of industrial estates from the Economic Development Board (EDB) as Singapore was going through rapid industrialisation after independence.[3] As a statutory board, the company has powers to purchase, acquire or lease any land as required, and had board members from the public and trade unions to ensure that the interests of industrialists and workers in the industrial estates were represented.[4]

Developing and expanding industrial estates and amenities

In the year of its establishment, JTC began developing new industrial estates and increasing the area of existing ones to expand Singapore's manufacturing sector.[5] In 1969, the company had established a new industrial estate in Senoko, expanded the areas of the Kranji and Sungei Kadut industrial estate through land reclamation and increased the area of the Jurong Industrial Estate from 14.8 km2 to 18.6 km2, allowing more factories to be set up in the area. With Jurong Town rapidly industrialising in the 1970s, the town had a lack of recreational and social amenities for its residents, leading JTC to develop a town centre with shopping and commercial facilities, Jurong Bird Park, the Chinese Garden and Japanese Garden, Jurong Hill Park, and new apartment blocks, developing the town into a sustainable one with a population of 32,000 residents.[6]

Petrochemical facilities, Science Park and Business Parks

As Singapore diversifies its economy in the 1970s, JTC constructed oil refineries on 3 of the offshore islands south of Jurong by fusing them into one island through land reclamation for S$26 million, to develop the country's petrochemical industry had also increased the operations of Jurong Port through expansion works.[7][8]

In the 1980s, JTC set up the Singapore Science Park to attract industries that produced high value products as the government planned to restructure the economy by moving away from labour-intensive industries towards science- and technology-based industries and knowledge-intensive activities.[9] The company continued to expand the petrochemical industry in the country and set up Singapore's first petrochemical plant in 1984. In the 1990s, JTC developed Jurong Island by joining 7 smaller islands through land reclamation into a huge chemical and petrochemical complex.[10] The company had also set up business parks in Jurong East and Changi, with the estates housing industrial and commercial facilities and offices as companies increased their dependence on technology in daily operations.[11]

Current developments

As the Singaporean economy becomes more knowledge-based, JTC had begun developing One-North, a new generation of industrial estate, which houses Biopolis, Fusionopolis and Mediapolis to stimulate the growth of the science and technology, biomedical, information technology and media industries in Singapore. Some of its more recent landmark project include the Jurong Rock Caverns, which is the first underground storage facility for liquid hydrocarbons in Southeast Asia.[12]

Projects

Industrial/business parks under JTC

Gardens managed by JTC

See also

References

  1. ↑ Jurong Town Corporation. (1969). Annual Report. Singapore: Author, pp. 1–2 (Call no.: RCLOS 352.0072 JTCAR); Republic of Singapore. Government Gazette. Acts Supplement. (1968, June 1). Jurong Town Corporation Act, 1968 (No. 5 of 1968). Singapore: [s.n.], p. 45. (Call no.: RCLOS 348.5957 SGGAS)
  2. ↑ Jurong Town Corporation. (2013, May 20). JTC today, moving ahead. Retrieved July 12, 2013
  3. ↑ Better amenities for Jurong residents. (1968, May 22). The Straits Times, p. 5. Retrieved March 15, 2017.
  4. ↑ New body to manage Jurong industries. (1968, May 12). The Straits Times, p. 7. Retrieved March 15, 2017.
  5. ↑ Campbell, W. (1968, November 28). Industry moves in as British forces prepare to pull out. The Straits Times, p. 12.Retrieved March 15, 2017.
  6. ↑ Jurong now fully self-contained town, says JTC. (1972, November 24). The Straits Times, p. 12. Retrieved March 15, 2017.
  7. ↑ $26m to join 3 islands into one. (1973, December 19). The Straits Times, p. 8. Retrieved March 15, 2017.
  8. ↑ Bright future for Jurong Port. (1975, March 15). The Straits Times, p. 13. Retrieved March 15, 2017.
  9. ↑ Chew, L. (1984, January 17). Science Park opening today. The Straits Times, p. 12 Retrieved March 15, 2017.
  10. ↑ Reclamation to start for Jurong Island project. (1995, March 10). The Straits Times, p. 48. Retrieved from NewspaperSG. Retrieved March 15, 2017.
  11. ↑ Some 16,500 professionals, technicians may work at first International Business Park. (1992, February 19). The Straits Times, p. 32. Retrieved March 15, 2017.
  12. ↑ "Five things to know about the Jurong Rock Caverns". The Straits Times. 2 September 2014. Retrieved 3 September 2014.
  13. ↑ "Operator selected for Singapore’s mysterious Jurong Rock Caverns". Oil Patch Asia. Retrieved 2 January 2014.
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