Chinese retail chain China Resources Vanguard announced plans to build a new warehousing distribution center in Zhouwangmiao, Haining, which is reportedly the largest of its kind in East China.
CR Vanguard plans to invest CNY980 million in this new project, which will cover an area of 213 mu. With registered capital of CNY200 million, the project will become a warehousing distribution center for commodities, fresh products, and cold chain products. Its target market is the entire East China region. The project is divided into two phases. Of which, the first phase will have an investment of CNY560 million and an area of 132.2 mu.
According to the agreement signed between Zhouwangmiao and CR Vanguard, Zhouwangmiao will list the warehousing distribution center as its priority project. The local government will provide services during the entire process to promote the earliest completion and production of this project.
The project will start construction in June 2015 and is expected to formally put into production in the second half of 2016. By then, the project will realize an annual turnover of CNY300 million.