Australia's Goodman plans logistics parks in western China

Australia’s largest listed industrial property company, Goodman Group (GMG.ASX), is planning to invest up to US$300 million to set up logistics parks in western China, where Beijing is currently making a big push, South China Morning Post reported. The conglomerate is considering cities such as Chongqing, Chengdu, Xi’an and Wuhan, which Goodman said are commercial and logistics hubs with good transport networks. Goodman’s Greater China managing director Philip Pearce said the company hopes to have its foot in two or three locations in western China by the end of 2010, and that it is also seeking to build logistics parks in Guangdong province. The National Development and Reform Commission announced plans in July to launch 23 infrastructure projects worth US$100.7 billion in western China this year. It will include railways, highways, airports and water works, as well as nuclear, hydroelectric, wind and solar power stations, and coal mines.