UPDATE 1-Singapore's Keppel gets $708 mln contract to build cooling system

(Updates with details on contract)

June 20 (Reuters) - Singapore's national urban planning authority has awarded Keppel Corp a contract to build and operate a large-scale cooling system in the Jurong Lake District of the city-state, the company said on Tuesday.

The conglomerate expects the contract to generate a total value of S$950 million ($708.1 million) over 30 years.

Keppel said the cooling system has a design capacity of 29,000 refrigeration tonnes and covers a gross area of about 1.4 million square meters.

Over its 30-year life, the plant is projected to reduce carbon emissions by more than 145,000 tonnes, which is the equivalent of planting 100,000 trees, the company said.

The project will add to Keppel's long-term, recurring operating income, said Cindy Lim, head of Keppel's infrastructure division.

"It will also provide Keppel with a strong foothold to bring in other energy-as-a-service offerings, such as sales of electricity, solar photovoltaic systems, and EV charging solutions to businesses, communities and users in Singapore’s West region," Lim said. ($1 = 1.3416 Singapore dollars) (Reporting by Riya Sharma in Bengaluru; Editing by Savio D'Souza)