Singapore is transforming its infrastructure to fend off competition from the seas to the skies.
The island-city plans to begin operating its fifth terminal at Changi Airport, Asia’s second-busiest international aerodome, by 2030 to cater to growing travel demand, Senior Minister of State at the Ministry of Transport Lam Pin Min said in parliament Thursday. A new shopping and retail attraction named Jewel, housing the world’s tallest indoor waterfall, will open next month at Changi.
Singapore has been investing to expand its airport, port and overall transport infrastructure as a swelling middle class in the Asia Pacific region allows an increasing number of people to fly and more trade crosses its borders.
Air-passenger traffic in the region is expected to more than double in the next two decades, the International Air Transport Association said.
Singapore is also preparing to provide liquefied natural gas as fuel to vessels at its port by 2020, Minister Lam said. That’s when shipping companies will be required to meet more stringent global rules set by the International Maritime Organization to cut sulfur emissions, mostly through the use of cleaner fuel or by installing exhaust-cleaning equipment on board vessels.
Source : Bloomberg