Keppel Telecommunications & Transportation, through a wholly-owned unit, has entered into a joint venture agreement to co-develop and operate the Keppel Wanjiang International Coldchain Logistics Park (Anhui) in Lu’an City, Anhui Province, China.
The 33-hectare site is located 60km west of Hefei, the capital of Anhui Province. In addition, the logistics park is 25km west of the upcoming Hefei Xin Qiao International Airport, and is 15km north-east from the Lu’an City Centre. The Logistics Park is thus well-placed to serve the logistical needs of the Central China region that includes Anhui, Henan, Hubei, Hunan and Jiangxi.
The JV company will be 60% held by Keppel T&T’s wholly-owned subsidiary with the rest held by the Jin’an district government, and private investors including Chinese conglomerate, Anhui Zhuxin Group’s wholly-owned subsidiary, Anhui Wanjiang. The registered capital of the JV will be RMB180 million ($36 million), of which Keppel T&T’s proportionate share will be $22 million.
Keppel Telecommunications & Transportation says the Lu’an project will be modelled after Keppel T&T’s Sino-Singapore Jilin Food Zone International Logistics Park in the northeastern region of China. Designed to serve as a consolidated platform for trading and food distribution, the logistics park will offer integrated 3PL services, including warehousing, cold chain, transportation services, auxiliary support infrastructure and the sale/rental of retail shop fronts.
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