FedEx to build Asia’s largest cargo hub at Guangzhou’s Baiyun airport
US logistics firm FedEx Corp said it plans to build what will be the largest Asia-Pacific hub at Guangzhou’s Baiyun International Airport in southern China.
The company said it will invest 150 mln usd in the facility which will have a total floor space of 82,000 square meters located on 63 hectares. The hub is expected to assume and expand the current activities of the existing hub in the Philippines, beginning in December 2008, the company said in a statement. ‘More than two decades ago, we envisioned China as a nexus of global supply and demand and as a result became the first express carrier to enter the market,’ said Frederick Smith, FedEx chairman. ‘Today, we further invest in our leadership position by creating a new gateway that expands our customers’ access to the global marketplace.’ FedEx said the decision to develop the new hub was made following a study that forecast Asia will remain the world’s fastest growing regional air freight market, with growth of 8.5 pct each year until 2023.
