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CWT to spend US$50 million on logistics facility in Tianjin
POSTED: 8:33 a.m. EDT, July 18,2007
Singapore's largest listed logistics service provider CWT Limited plans to invest US$50 million on a new container cargo logistics park in Tianjin.
Ground breaking ceremony of the facility was held recently, said the Xinhua report.
The facility in the Tianjin International Container Logistics Centre, consists of a 40,000-square metre yard and a five-storey warehouse of 110,000 square metres and a storage capacity for 10,000 TEU.
This comes with news that Singapore's YCH Group has opened its newly-established Airport Logistics Park in the Tianjin Free Trade Zone.
This CNY124 million (US$16.3 million) YCH logistics park covers an area of 50,000 square metres and is the second project YCH has opened in Tianjin in three years.
Of the new CWT facility, unnamed industry insiders quoted by Xinhau said the new facility will add weight to Tianjin's competitive strength in vying for more cargo from the neighbouring regions.
CWT plans to spend a total of US$200 million in the next five years on a number of new logistics facilities covering a total area of 66.66 hectares. |
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