Chinese express logistics giant S.F. Holding announced Wednesday that its plan to build a civil airport in Hubei Province had been approved by the National Development and Reform Commission (NDRC), The Paper reported.
As disclosed by the company, the new airport, which is planned to be located in the city of E Zhou in Hubei Province, will contain airstrips that are designed to be capable of handling 1.5 million passengers and 3.3 million tons of goods a year by 2030, as well as a terminal building and a transfer hub, which combined are expected to be able to accommodate 1 million passengers and 2.45 million tons of goods a year by 2025.
The airport is part of a broader deal over the building of an international core logistics hub in Hubei Province which was struck by a subsidiary of S.F. Holding and the local government of Hubei on Dec. 13, 2017.
Under the deal, S.F. Holding's subsidiary will invest 2.3 billion yuan (339.76 million U.S. dollars) during the construction of the new airport and acquire 46 percent ownership of it.
According to the deal, the logistics hub will be comprised of an airport, a transfer hub and a base for S.F. Holding's airliner subsidiary, as well as an oil pipeline project.
The total investments in the logistics hub are estimated to be at 32.06 billion yuan (4.74 billion U.S. dollars) with the NDRC, the Civil Aviation Administration of China (CAAC), the local government of Hubei, a Shenzhen-based investment firm and S.F. Holding's subsidiary as its shareholders.
By building a logistics hub, S.F. Holding hopes to establish an international comprehensive aviation logistics hub which will cover businesses including airfreight transport, comprehensive logistics services and the corresponding support services.
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