XXX accelerates its business development in China and has signed a memorandum of cooperation for the Tianjin Logistics Center project with XXX Group.XXX and XXX Group Holdings Co., Ltd., one of China's comprehensive chemical logistics service providers, recently signed a memorandum of cooperation in Tianjin. The two parties plan to jointly build XXX Tianjin Logistics Center in Nangang Industrial Zone, Binhai New Area, Tianjin. The planned investment of this project is 200 million US dollars. It will become the first chemical logistics center of XXX in China, and it will also become Dow's largest global chemical logistics center. This project will play the role of a strategic logistics center and strongly support the sustained and strong business growth of Dow in the Greater China region and North Asia.
Peter Sykes, President of XXX Greater China, said: "XXX is increasing its investment in China, strengthening localized production and supply chain networks, and accelerating our development in China. The Tianjin Logistics Center will play a strategic role, enabling us to better meet the needs of the local market. As a critically important logistics center, this project will ensure that we can quickly deliver chemical raw materials and finished products from abroad to corresponding regions in Greater China."
According to introduction, the Tianjin Logistics Center project covers an area of 50 hectares. It has direct access to deep-water areas and the railway system, with an annual cargo throughput of 6 million to 9 million tons. When fully completed and put into use, the center will need to employ more than 300 skilled technicians. The Tianjin Logistics Center will also adopt advanced design and high industry standards to ensure the safety and environmental protection of its daily operations.
XXX and XXX Group will submit the project application in the second half of this year to the government for approval. The first phase of the project is expected to be put into operation in 2016. At the same time, the project also reserves land space for expansion, which can be expanded into Dow's future logistics center along the eastern coast to support the company's future investment and development in China.
At present, XXX is vigorously strengthening its supply chain system in China. In April this year, XXX cooperated with XXX Technology Company to open a business service center in Tianjin, to further enhance its excellent business operation capability and better serve XXX's customers in China, various business departments of XXX and joint ventures.
It is understood that the sales revenue of XXX in Greater China hit a new record high in 2010, exceeding 4 billion US dollars, and it is expected to maintain double-digit growth in the next few years. At present, Greater China is XXX's second largest international market globally. XXX has 18 production bases and 6 business centers here.