TAIWAN's Evergreen Group has signed a co-operation agreement with the Chongqing Shangshe Group to set up a logistics and distribution centre in Chongqing to provide third-party logistics (3pl) services in western China.
The two sides plan to establish a joint venture company which will be responsible for the construction and operation of the new logistics centre. It will also be Evergreen's first joint venture in Western China.
Chongqing Shangshe Group will hold a 51 per cent stake in the new firm, while the Evergreen Group will hold a 49 per cent equity interest, Xinhua reports.
A total of CNY200 million (US$25.6 million) will be invested in the new logistics centre, which will cover a total area measuring 153,334 square metres, including up to 100,000 square metres of warehouse space, a 30,000-square-metre storage yard and car park and 6,000 square metres of offices.
Once the logistics centre begins operations, it is expected to handle cargo worth in excess of CNY10 billion, according to comments made by an Evergreen official.
The Chongqing Shangshe Group recorded an annual sales income of about CNY18 billion in 2006, the report added.
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