Keppel-NUS research to open up new commercial possibilities, job opportunities: DPM Teo
Deputy Prime Minister Teo Chee Hean says that future-oriented research done collaboratively between universities and industry can help boost commercial and job opportunities in Singapore.
Mr Teo who's also Chairman of the National Research Foundation was speaking at the launch of Keppel-NUS Corporate Lab.
The $75 million lab, at NUS, will address future challenges facing the offshore industry.
This includes developing solutions for oil and gas exploration and production in challenging environments like the Arctic as well as in deep and ultra-deep water.
This is the first time a local multinational company and a local university is collaborating under the Corporate Lab @ University Scheme.
The partnership will create 54 new positions for research fellows and engineers.
It will also train some 30 PhD and Masters students in 5 years.
Mr Teo said that he hopes the collaboration will encourage other local companies to forge strategic alliances with research performers, to do future-oriented practical research that creates economic value for Singapore, and good jobs for Singaporeans.
The marine and offshore industry contributes 13 billion dollars, or 1.6 per cent, to Singapore's GDP.
The industry also hires some 20,000 Singaporean and permanent residents, mainly in skilled jobs.
The Keppel-NUS Lab is the second corporate laboratory under the National Research Foundation's Corporate Lab @ University Scheme.
The Rolls-Royce@NTU Corporate Lab was established earlier this year in July.
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