Cosco Logistics builds new storage facility in Qingdao

COSCO Logistics recently start building a new warehousing facility in Qingdao, Logistics Week reported.

The facility costs US$40 million, covers an area of 120,000 square metres. Construction is expected to be complete by November.

The facility is able to achieve an annual sales volume of CNY500 million (US$71.39 million) after it starts operation and become the largest warehousing and logistics facility in northeast China's Shandong province.