Binhai Teda Logistics (08348) issued an announcement. The company's wholly-owned subsidiary, Tianjin Yuanda Modern Logistics Co., Ltd. (Yuanda...
According to Zhitong Finance App, Binhai Teda Logistics (08348) announced that Tianjin Yuanda Modern Logistics Co., Ltd. (Yuanda Logistics), a wholly-owned subsidiary of the company, plans to upgrade existing assets and build the TEDA Green Smart Logistics Supply Chain Industrial Park project. The registered name of the project is Yuanda Logistics and Warehousing Facility Upgrading and Renovation Project.
The project is located in the East District of the Binhai New Area Economic and Technological Development Zone, north of Sixth Street, east of Bohai Road, south of Seventh Street, and west of Dongting Road. It covers a total area of about 52,182.9 square meters. It is proposed to build a Class C warehouse of about 8,659 square meters and a Class C II warehouse of about 16,144 square meters, with an estimated total investment of about RMB 120 million. Preliminary work on the project has begun, and construction is scheduled to be completed and put into operation in 2025. The Group plans to use its own funds and bank project loans to finance the project. At present, Yuanda Logistics has obtained a fixed asset loan from the Tianjin branch of the China Development Bank. The loan amount is RMB 70 million. The company will guarantee this loan.
The announcement stated that the Group is committed to providing customers with high-quality logistics services. Through this project, Yuanda Logistics plans to upgrade existing old plant facilities to green smart high-standard warehouses to meet the needs of modern logistics services, rely on digital intelligent systems and automated operating facilities to provide customers with better storage facilities and better services, and improve asset operation efficiency. The Board of Directors believes that the project is in the overall interests of the Group and the company's shareholders.