SITC International, a Hong Kong-listed shipping logistics company, has inked an agreement with Qingdao Economic and Technological Development Zone Management Committee to construct Phase Two of its Qingdao Logistics Park.

In addition to its existing 500,000-square-metre operation, the Phase Two site is located at the Port of Qianwan in the city of Qingdao, a major city in eastern Shandong province, with an area of 240,000 square metres.

"This project will allow us to extend the industry chain of our land-based services and offer higher quality services to our clients. We also believe this project will bring to us good returns to our shareholders and sustain our stable development at a relatively rapid pace," said SITC chairman of the board and executive director Mr Yang Shaopeng.

Both Qingdao Economic and Technological Development Zone Management Committee and Qingdao Huangdao District Government are committed to rendering support for this project.

Source: Shipping Gazette