SingPost to invest S$182 m in new eCommerce Logistics Hub in Tampines
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IN LINE with efforts to develop its e-commerce business, SingPost is spending S$182 million to set up an eCommerce Logistics Hub, which will be ready by the second half of 2016.
Located in Tampines LogisPark, the three-storey, 553,000-sq ft facility will have a fully automated parcel-sorting facility and two warehousing floors.
SingPost has inked a 30-year lease with JTC Corp for a 3.25 ha plot of land, which will house the Hub and an adjacent eight-storey office block.
Group chief executive Wolfgang Baier said: "The Hub is an integral part of SingPost Group's strategy as we expand our ecommerce logistics business and capitalize on the fast-growing ecommerce market here in Singapore and the region."
The group said it will finance the development of the hub internally with its own cash holdings. The price tag includes land lease costs, construction costs and investment in equipment.
Construction on the facility is slated for completion by end January 2016.
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