Sembcorp Industries inked a Memorandum of Understanding (MOU) with Chongqing Energy Investment Group to explore a strategic partnership on a broad range of development areas, in line with China's ‘One Belt, One Road' initiative. The MOU focuses on several key areas of cooperation, including renewable energy projects, township development, property development and design, engineering & construction projects in Chongqing, as well as overseas energy projects. It will also facilitate the mutual sharing of expertise in advanced technologies, professional international management and corporate governance systems. This MOU signifies the intentions of both Sembcorp and Chongqing Energy Investment Group to strengthen the strategic partnership.

Sembcorp had announced, in December 2015, a joint venture with Chongqing Energy Investment Group's subsidiary to invest in a mine-mouth, 1,620- megawatt coal-fired power project in Chongqing, the site of the third Singapore-China government-led project after Tianjin and Suzhou.