AMemorandum of Understanding for the implementation of Hengqin Upstream Cargo Terminal Project was signed earlier this week, according to the Macau International Airport Company Limited (CAM).
CAM executive committee chairman Chan Weng Hong said demand for air cargo is increasing alongside rapid development of e-commerce, the same statement read.
Since September 2022, CAM has cooperated with COSCO Shipping Logistics & Supply Chain Management Co., Ltd., later establishing a joint venture company Guangdong Hengqin Macau International Airport Logistics Co., Ltd.
A “Four-Party Agreement” was signed after the first capital injection into the joint venture, and several key agreements for the project were also signed successively this year.
In November, the joint venture company successfully bid for a 66,700 square meter land for logistics use, upon which a new cargo terminal will be built for the project.
Predicted to start construction in early 2025, the project aims to enhance local aviation logistics capabilities and to actively develop the regional economy.
The acquisition of the land parcel costs approximately RMB129 million. Staff Reporter
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