Multinational energy corporation Schneider Electric plans to invest a total of 65 million euros ($71 million) in Singapore in the next few years to set up a new control tower and headquarters in Asia, company officials said Wednesday.

The new Asian headquarters in Singapore will be in charge of Korea, Taiwan, Mongolia and the Southeast Asian region.

Schneider Electric plans to concentrate on providing innovative energy management solutions in the East Asian region, as well as build a software industry solution center and a local software hub with investment and financial assistance from the Singapore Economic Development Board.

The centers are expected to help improve software for industries including chemicals, food, mining, metal, oil, gas, transportation, water treatment and electrical grids, with plans to have over 60 researchers and engineers working by 2018.

CEO Jean-Pascal Tricoire said he hoped the company’s investment and technologies would help smart industries grow in Singapore and the rest of Asia.

Additionally, Schneider Electric has plans to expand its global transport team and set up a control tower in charge of distribution, network and data analysis in East Asia.

By Sang Youn-joo (sangyj@heraldcorp.com)