DALIAN Municipal Government and a Shenglong industrial company have signed a contract on building at the local international business and trade logistics park, reports Xinhua.

The Dalian Shenglong International Business and Trade Logistics Park will be located in Dalian Huayuankou Economic Zone, occupying an area of 480,000 square metres and entailing a total investment of CNY2.5 billion (US$402.4 million).

The facility will integrate services of wholesale, logistics, warehousing, exhibition, culture, commerce, shopping, sightseeing as well as provide living quarters. It aims to develop into a large comprehensive trade logistics base in northeast Asian regions and to boost development of industries such as R&D, production, warehouse logistics, processing, tourist catering and financial services.

Construction of the phase 1 is expected to start this May and is scheduled to be finished in September 2015, involving an investment of CNY1.1 billion. And the CNY1.4 billion phase 2 is estimated to be completed in September 2016.

When fully completed, the logistics park will bring an annual sales of CNY1.7 billion, annual revenue of CNY1 billion and will create jobs for 14,000 people.