Are they talking cargo hub only or a domicle as well???
AFX News Limited
UPS says clears final hurdles to open air hub in China
04.12.07, 1:36 AM ET
SHANGHAI (XFN-ASIA) - United Parcel Service Inc (UPS) has cleared the final hurdles for its planned air cargo hub in Shanghai, UPS executives said.
They made the remarks at a ceremony attended by US Transport Secretary Mary Peters.
The company's Shanghai cargo hub, scheduled to open next year and originally announced in 2005, will link all of China through Pudong International Airport with direct service to the US, Europe and Asia.
Ken Torok, president of UPS Asia-Pacific, said the company has invested around 600 mln usd in the last five years to become a top-tier player in the Chinese market. He said the company now employs 200 people at the airport and expects to increase that number to 1,000 by 2010.
'What is important is that we are investing in our operations in China and will continue our investment,' Torok told reporters. 'I think it is extremely significant.'
Torok said that starting today the company can begin implementing the new rights afforded under the contract at its existing facility at the airport, which includes self-handling of cargo.
He said the company initially invested more than 20 mln usd in the new hub -- its fourth in Asia .
The ceremony marked the signing of the operating agreement and lease contract for the hub between the Shanghai Airport Authority and UPS.
The agreement is a result of the China-US Civil Aviation Transportation Air Services accord signed by the two governments in July 2004.
'UPS is adding jobs and expanding operations in the United States to keep up with the new business from its operations in China,' Peters said.
The hub will use a new runway at the airport that should be completed by the second quarter of next year and will encompass 96,000 sq m of land.
The Shanghai Airport Authority, which is also investing in the new cargo center, will build the hub and coordinate governmental operations at the airport for UPS.
The cargo handling capacity of the airport increased from 635,000 tons in 2002 to 2.15 mln tons in 2006, according to the airport authority.
UPS expects to be able to sort 17,000 pieces of cargo per hour by 2012 at the facility. Currently, the company has 76 flight takeoffs and landing out of the airport per week.
In addition to the new China hub, UPS also has centers in the Philippines, Hong Kong and Taipei .
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AFX News Limited
UPS says clears final hurdles to open air hub in China
04.12.07, 1:36 AM ET
SHANGHAI (XFN-ASIA) - United Parcel Service Inc (UPS) has cleared the final hurdles for its planned air cargo hub in Shanghai, UPS executives said.
They made the remarks at a ceremony attended by US Transport Secretary Mary Peters.
The company's Shanghai cargo hub, scheduled to open next year and originally announced in 2005, will link all of China through Pudong International Airport with direct service to the US, Europe and Asia.
Ken Torok, president of UPS Asia-Pacific, said the company has invested around 600 mln usd in the last five years to become a top-tier player in the Chinese market. He said the company now employs 200 people at the airport and expects to increase that number to 1,000 by 2010.
'What is important is that we are investing in our operations in China and will continue our investment,' Torok told reporters. 'I think it is extremely significant.'
Torok said that starting today the company can begin implementing the new rights afforded under the contract at its existing facility at the airport, which includes self-handling of cargo.
He said the company initially invested more than 20 mln usd in the new hub -- its fourth in Asia .
The ceremony marked the signing of the operating agreement and lease contract for the hub between the Shanghai Airport Authority and UPS.
The agreement is a result of the China-US Civil Aviation Transportation Air Services accord signed by the two governments in July 2004.
'UPS is adding jobs and expanding operations in the United States to keep up with the new business from its operations in China,' Peters said.
The hub will use a new runway at the airport that should be completed by the second quarter of next year and will encompass 96,000 sq m of land.
The Shanghai Airport Authority, which is also investing in the new cargo center, will build the hub and coordinate governmental operations at the airport for UPS.
The cargo handling capacity of the airport increased from 635,000 tons in 2002 to 2.15 mln tons in 2006, according to the airport authority.
UPS expects to be able to sort 17,000 pieces of cargo per hour by 2012 at the facility. Currently, the company has 76 flight takeoffs and landing out of the airport per week.
In addition to the new China hub, UPS also has centers in the Philippines, Hong Kong and Taipei .
[email protected]
Neither the Subscriber nor AFX News warrants the completeness or accuracy of the Service or the suitability of the Service as a trading aid and neither accepts any liability for losses howsoever incurred. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon.
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