Global logistics firm, DHL Supply Chain, has unveiled plans to build its Advanced Regional Centre at Singapore's Tampines LogisPark. The facility is a joint investment worth S$160 million between DHL and Cache Logistics Trust, a Real Estate Investment Trust (REIT). It is expected to increase the company's warehouse
Global logistics firm, DHL Supply Chain, has unveiled plans to build its Advanced Regional Centre at Singapore's Tampines LogisPark. The facility is a joint investment worth S$160 million between DHL and Cache Logistics Trust, a Real Estate Investment Trust (REIT).
It is expected to increase the company's warehouse capacity in Singapore by 40 percent, create another 500 jobs, and further strengthen transport capabilities, IT and people.
Construction is expected to be completed by the second half of 2015.
The investment is part of the firm's growth strategy for Southeast Asia for 2013 to 2015 -- which is to grow its transportation fleet by over 85 percent to 2,300 vehicles, staff strength by 65 percent to some 25,000 people, and add over 50 percent more warehouse space, particularly amid regional growth prospects in key industries such as aerospace, healthcare and technology.
Speaking at the groundbreaking ceremony on Wednesday, Minister of State for Trade and Industry Teo Ser Luck said that Singapore is well positioned to leverage opportunities in the logistics industry across the region.
He added: "With the continued rapid growth of Asian economies and the rise of the middle class in Asia, we can expect that demand for logistics services will grow in tandem with the increased supply and demand of goods in the region.
"Beyond supporting industry transformation, the Singapore government is investing in improving our infrastructure so as to build on and strengthen our position as a leading logistics hub."