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Keppel signs JV contract to develop cold chain Logistics Park
Keppel Telecommunications & Transportation (Keppel T&T) has signed a joint venture (JV) agreement with subsidiaries of Anhui Zhuxin and the Lu'an City Jin'an District Government, to develop and operate a cold chain logistics park in Anhui Province, China. The park, known as Keppel Wanjiang International Coldchain Logistics Park, will be developed on 33ha site located 60 kilometer (km) west of Hefei, the capital of Anhui Province. The park will serve the logistics needs of the Central China regions that include Anhui, Henan, Hubei, Hunan and Jiangxi. Expected to start operations by the end of 2014, the logistics park will provide Third Party Logistics (3PL) services that include warehousing, cold chain, transportation services, auxiliary support infrastructure and the sale/rental of retail shop fronts. The registered capital of the JV will be about S$36m (USD 29 million), of which Keppel T&T's share will be about S$22m (USD 18 million). Keppel T&T Chief Executive Officer (CEO) Mr. Pang Hee Hon said, "Keppel T&T's expansion in Anhui Province is another step in our China strategy to provide quality food logistics services in key agricultural production zones."
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