Changan Minsheng APLL Logistics (01292) said it agreed to acquire parcels of land located within Luohuang Industrial Park in Jiangjin District of Chongqing with a total site area of about 300 mu at Rmb99 million.
The land is currently a vacant site with permitted use for logistics land use. The land use term of the land is expected to be 50 years.
The acquisition enables CMA Logistics to build warehouses and distribution processing plants which, on the basis of consolidating the existing businesses, will lay a foundation for acquiring new businesses (delivering of finished vehicles and after-sale components and parts, etc.) and create conditions for exploring car modification and financial logistics industries.
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