Yokogawa Engineering Asia announced that it will be investing S$112 million over the next 3 to 5 years, into its first-ever Co-Innovation Centre, based in Singapore. The Centre will open in the first quarter of 2016 and is part of Yokogawa’s mid-term business plan Transformation 2017, which aims to create value for the company through Process Co-Innovation with clients.
Yokogawa Engineering Asia invests S$112 million into its First Co-Innovation Centre
The establishment of the Co-Innovation Centre looks set to boost productivity for process plants on Jurong Island, as Yokogawa works with its clients and IT companies to develop technologies to apply Big Data to industrial automation systems. These can bring about a wider adoption of remote monitoring technologies to improve planning and predictability, thereby contributing to lower maintenance costs and operation expenditures.
The Co-Innovation Centre will focus on the development of new industry solutions that will boost next generation industrial automation process capabilities with the convergence of operation and information technologies (OT - IT).
At the press conference for the launch of the Centre, Yokogawa announced that a number of companies, from the power, petrochemical, and refining industries, have already agreed to come on board as industry partners in collaborative development projects that will take place at the Co-Innovation Centre.
- 19 November 2015