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Gazeley Limited, UK-based logistics space developer and the wholly-owned subsidiary of US retail giant Wal-Mart, recently signed an agreement with the local authorities to build a logistics park in Kunshan High-Tech Zone of Jiangsu province near Shanghai, Logistics Week reported.
The Gazeley (Kunshan) Logistics Park will cover an area of 9.7 hectares and will require a US$40 million investment. Construction of the first phase is scheduled to start this month and finish next June.
Having entered China in February 2006, Gazeley is now developing a 42,000-square metre distribution centre in the northern city of Tianjin and 40,000-square metre warehouses in Jiaxing, a city in eastern Zhejiang province. The Tianjin facility was completed in September and the Jiaxing centre will be finished next July.
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