Chinese express firm YTO's plans for a huge Y6.6bn air cargo logistics hub have taken another step forward with the signing of an agreement with the Jiaxing Municipal Government.
The YTO Jiaxing Global Aviation Logistics Hub will feature a logistics hub and aircraft maintenance centre. It is expected to handles around 2.4m tons of cargo and mail by 2050, with space for 94 freighters.
YTO Group chairman Yu Weijiao said the hub will serve the national strategy of the integration Yangtze River Delta region and is part of the "One Belt, One World" strategy, while it will also serve to enhance China's international air cargo capacity.
YTO said that earlier this year the state council made it clear that "the construction of cargo-based airports will be pushed forward in an orderly manner" in light of a lack on international air cargo capacity.
As well as the air cargo facilites, the centre will also feature an intermodal transportation center, a logistics technology research and development center and a Yangtze River Delta trade and commerce centre.
The distribution center and other supporting projects will have a total investment of Y12.2bn.
Plans for the hub initially hit the headlines back in July 2018.
YTO Express currently operates five B757-200Fs and seven B737-300Fs.
