FedEx Express has signed an agreement with Shanghai Airport (Group) to establish an express and cargo hub in Shanghai.
The facility, to be located at Shanghai’s Pudong International Airport, is expected to be completed by early 2017. FedEx anticipates investing more than $100 million in the hub, which will have on-site customs clearance and more than triple the capacity of FedEx's current Shanghai facility.
“By expanding our infrastructure in Shanghai, we will be equipped to handle increased volumes in Asia and ultimately provide our customers with greater and more reliable access to the markets in which they do business,” Michael L. Ducker, chief operating officer and president, international, of FedEx Express, said in a press release.
FedEx also opened a new regional hub in Singapore this month.