GLP will also acquire a 19.9% stake in Shenzhen Chiwan Petroleum Supply Base, for US$70.8 million. GLP, a unit of the Government of Singapore Investment Corp, said the stake would be acquired through its subsidiary, China Logistics Holding.
The new park in Shenyang will cover 43,000 square meters, and serve mainly as a distribution center for electronic and medical products, services outsourcing and large-scale retail business.
TODAY Online reports GLP manages 51 logistics parks and two light assembly facilities parks in 18 major Chinese cities.