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SingPost to invest US$142.6 million in e-commerce hub
TO cater to SingPost's expanding e-commerce logistics business the company plans to invest S$182 million (US$142.6 million) to develop a 553,000-square foot regional e-commerce logistics hub in Singapore.
Construction of hub in Tampines LogisPark is expected to be completed by the end January 2016 and fully operational in the second half of 2016.
The three-storey e-commerce logistics hub is expected to house a fully-automated parcel sorting facility on the ground floor, with two modern warehousing floors above, reports the UK's Transport Intelligence.
The facility will also comprise an adjoining eight-storey office block to house the company's local and regional logistics operations, namely, Quantium Solutions, Singapore Parcel and Lock+Store.
The hub will serve South East Asia and act as a connecting point to the rest of Asia.
Group chief executive officer, Wolfgang Baier, said: "This hub is also an integral part of SingPost Group's strategy as we expand our e-commerce logistics business and capitalise on the fast-growing e-commerce market here in Singapore and the region.
"With this critical infrastructure in place, it will radically transform our full range of e-commerce logistics capabilities, across warehousing, fulfilment, sorting and delivery," he said.
Construction of hub in Tampines LogisPark is expected to be completed by the end January 2016 and fully operational in the second half of 2016.
The three-storey e-commerce logistics hub is expected to house a fully-automated parcel sorting facility on the ground floor, with two modern warehousing floors above, reports the UK's Transport Intelligence.
The facility will also comprise an adjoining eight-storey office block to house the company's local and regional logistics operations, namely, Quantium Solutions, Singapore Parcel and Lock+Store.
The hub will serve South East Asia and act as a connecting point to the rest of Asia.
Group chief executive officer, Wolfgang Baier, said: "This hub is also an integral part of SingPost Group's strategy as we expand our e-commerce logistics business and capitalise on the fast-growing e-commerce market here in Singapore and the region.
"With this critical infrastructure in place, it will radically transform our full range of e-commerce logistics capabilities, across warehousing, fulfilment, sorting and delivery," he said.
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