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London - A multinational joint venture has been formed in Amsterdam, the Netherlands, to develop a large trade, exhibition and logistics service centre for Chinese products being marketed in Europe.
Located at Hoofddorp, close to Amsterdam's Schiphol Airport, CETEC (Chinamex Europe Trade and Exhibition Centre), as the venture is called, is being backed by Chinese multinational business enterprise Chinamex (70 percent), Schiphol Real Estate, a subsidiary of airport operator the Schiphol Group (15 percent), and ING Real Estate, part of Dutch global financial institution ING.
The project is the subject of a feasibility study due to be completed by the end of this year. The project will eventually involve investment of US$280 million to $420 million.
In addition to providing space for the promotion, sale and exhibition of Chinese goods, the centre will also offer logistics and financial services. Discussions concerning this have been held with the Dutch tax authorities, Customs and other public and social service providers.
"CETEC will house 1,000 to 1,500 Chinese companies which will be able to use the centre to display their products in Europe," Schiphol Group chief financial officer Pieter Verboom said.
"That development will create a lot of additional business because there will also be a distribution centre for goods which are being shipped from China into the European market through Amsterdam, probably via the airport to a great extent but also via the ports."
Verboom went on to reveal that in order to meet Chinese requirements for an early start to the venture, the first CETEC facilities would be established on a temporary site of 45,000 sq ms.
"That operation will be ready at the end of 2008 or the start of 2009," he said. A permanent location of 100,000 sq m, to be developed very close by, should be operational in 2012, he added.
Verboom also confirmed that Schiphol Airport was going ahead with the establishment of a Holland Trade Lounge, a one-stop shop to handle all the procedures and formalities required of foreign companies, particularly from China, Japan, India, the US and Europe, seeking to establish businesses in the Netherlands. |
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