DHL to spend 24 mln usd on Beijing headquarters for Sinotrans jv express ops

Deutsche Post World Net unit DHL said it will spend about 24 mln usd to set up a flagship headquarters for the express operations of its joint venture with China’s Sinotrans.

DHL said in a statement that the investment in the new Beijing headquarters, to open in 2007, will push the commitment it has made to Greater China operations in recent years to over 900 mln usd.

It also said that under its ‘first in China’ plan, DHL-Sinotrans will increase the number of its branches nationwide to 72 from 56.

DHL Enhances Partnership with Sinotrans
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BEIJING, Apr 20, 2006 (SinoCast via COMTEX) –China National Foreign Trade Transportation (Group) Corporation (Sinotrans), a leading provider of logistics services in the country, and DHL announced in Beijing on April 17 that they would strengthen their partnership in the future by constructing a DHL-Sinotrans building and expanding their networks in western China.

With a total investment of USD 24 million and covering an area of more than 40,000 square meters, the building is located in Beijing Economic-Technological Development Area, studded with multinationals, and is expected to come into operation in 2007.

They also plan to enlarge the number of branches of their joint venture, DHL-Sinotrans, to 72 from the current 56.

China has been the fastest growing market among DHL’s global networks and thus is of essence to DHL’s Asia-Pacific market even global market, said Wu Dongming, managing director of DHL-Sinotrans.

As one of the earliest express giants forayed into China, DHL established DHL-Sinotrans by partnering with Sinotrans in 1986. It now owns four port operation centers and seven direct-transportation port operation centers in the country.

From www.nbd.com.cn, Page 1, Wednesday, April 19, 2006 [email protected]