A Shanghai YTO Express (Logistics) Co Ltd aircraft gets ready to take off at Xiaoshan airport in Hangzhou, East Zhejiang province. [Photo provided to China Daily]
A total of 12.2 billion yuan will be invested by YTO Express (Logistics) Co Ltd in building a mega center for shared transportation and business in Jiaxing of Zhejiang province, the Shanghai-based express delivery firm announced on Monday.
The global aviation logistics hub located at Jiaxing airport will be a super center for shared transportation and business distribution for the Yangtze River Delta region as well as for China, according to the strategic investment agreement signed between YTO and Jiaxing municipal government.
The first phase of the project, involving 7.3 billion yuan investment, will occupy 600,000 square meters, including an aviation cargo hub, an aircraft maintenance area, a global express delivery operational center, an intelligent logistics park and office area.
The project is expected to kick off construction this year, and go into operation by 2021.
Yu Weijiao, chairman of YTO, said the Jiaxing hub will play a positive role in China's express delivery sector's global development.
"Aviation logistic hub is key and fundamental for global aviation network, for better serving the international industrial chain and building competitive platform. Logistics are essential in our nation's global economic collaboration," said Yu.
YTO looks to operate a cargo fleet of 50 and with an aviation cargo capacity of 1.1 million tons by 2030, and further expand it to 2.4 million tons by 2050.
Source: China Daily
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