Construction firms tap close to S$9 million of S$250m fund
Construction firms have tapped close to S$9 million of the S$250-million fund the government has put up as incentive for the industry to adopt technology and lift productivity.This is according to Senior Minister of State for National Development and Education Grace Fu.Speaking at the opening of the Singapore Construction Productivity Week, she noted "some progress" in the government's construction productivity roadmap.
The roadmap laid down the direction for Singapore's construction sector, including incentives to make companies more productive and globally competitive.Ms Fu said more than 500 firms have benefited from the S$250-million Construction Productivity and Capability Fund (CPCF), which was launched in June last year.
While noting that the program is still in its early stage, the minister said she wanted to see more firms availing of the funds.
"I strongly encourage companies to take this opportunity to leverage on these incentive schemes to enhance your companies' productivity and fast-track your capacity building," she told participants gathered at the event.
Under the roadmap, the local construction industry is also mandated to adopt the so-called Building Information Modeling (BIM) process by 2015.
The BIM normally involves three-dimensional modeling and is meant to help companies detect loopholes early on in the construction process.John Keung, chief executive of the Building and Construction Authority that works with the government on implementing the roadmap, said the industry is on track in meeting the 2015 target.
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