[photopress:jiaxing.jpg,full,alignright]ProLogis, a leading U.S.-based logistics provider, has signed an agreeement to spend US$100 million investing in the Xiuzhou Industry Park located in the district of Xiuzhou, in Jiaxing city, Zhejiang province.
The China Federation of Logistics & Purchasing states ProLogis’ Chinese subsidiary ProLogis (Jiaxing) Logistic Establishment has signed an agreement that ProLogis will put in US$35 million of registered capital initially with a total investment of US$100 million. The agreement, signed between Jiaxing Mayor Zhang Derong, Vice Mayor Zhang Zhiwei, and ProLogis China Operations’ Managing Director Mei Zhiming, will kick-off the development of 113,330 sq m in Xiuzhou making it the largest logistics project in Jiaxing.
ProLogis has invested in 12 logistics industrial parks in Chinese cities including Beijing, Guangzhou, Shanghai, Shenzhen, Suzhou, and Tianjin.
Source: China Knowledge