The deal was signed at the inaugural Singapore Maritime Technology Conference.
The project includes dredging of the waters, construction of wharfs and reclamation of 294 hectares of land.
Singapore will be consolidating its container port activities at Tuas to meet the future demands of container shipping. The new Tuas Terminal will use latest technology such as automated cranes and automated guided vehicles for container operations. When completed, it will have the capacity to handle 65 million twenty-foot equivalent units (TEUs) per annum, almost double the throughput handled by the Port of Singapore in 2014.