Tianjin's Binhai New Area to build US$375.2 million logistics park

A CNY2.5 billion (US$375.2 million) logistics park covering 1.25 million square metres will be built in Tianjin's coastal industrial area, the Binhai New Area, reports Xinhua.

CNY800 million will be spent on the start-up phase this year. According to the plan, the facility will hold warehousing and distribution centres for sea and rail cargo transshipments as well as processing centres for packaging, repackaging, and processing of materials.

The logistics park will be equipped with state-of-the-art e-trade platform and will be able to generate a trade value of CNY80 billion after completion, bringing a tax revenue of CNY400 million and is expected to be the largest trade market for production material in northern China.
(Source:www.schednet.com)