CORRECT 08/07: Global Logistic Properties: Began Construction Of Facilities In Beijing Capital Airport
August 07 2011 - 8:12PM
Dow Jones News
Global Logistic Properties Ltd. (MC0.SG) has started
construction of new logistic facilities at its Park Beijing Capital
Airport.
The facilities, which are to be completed by August 2012, will
provide logistics for non-bonded air-cargo handling and for
logistics operations at the Beijing Capital International Airport,
GLP said in a filing to the Singapore Exchange late Sunday.
GLP, which is majority owned by Singapore sovereign wealth fund
Government of Singapore Investment Corp., didn't provide the cost
of the new logistic facilities.
GLP Park Beijing Capital Airport has 18 properties and currently
serves major air freight companies such as FedEx and DHL.
In January, GLP said it will acquire a 53% stake in China's
Airport City Development Co. Ltd. for US$375 million, which is the
sole developer of airside cargo handling and bonded warehouse
logistic facilities for Beijing Capital International Airport.
-By P.R. Venkat, Dow Jones Newswires; +65 64154 152;
venkat.pr@dowjones.com
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