(Yicai Global) Jan. 17 -- China's macroeconomic management agency has given the green light for a unit of delivery giant SF Holding and a regional government to build central China's first freight airport in Hubei province.
The National Development and Reform Commission approved the Erzhou civil airport project with the total investment of CNY32.1 billion (USD4.7 billion), the Shenzhen-based delivery firm, which also is the main investor, said in a statement yesterday.
The aviation base is built to meet a growing demand for air cargo, and it is expected to handle 3.3 million tonnes of cargo and up to 1.5 million trips annually by 2030.
SF Taisen, a unit of SF Express, the Hubei Provincial Transport Investment Group and Shenzhen Nongyin Airport Investment penned a contract to set up a joint venture for the project in December 2017. SF Taisen invested CNY2.3 billion to hold 46 percent of the JV's equity.
The Ezhou airport will reduce SF Airlines' daily costs, the parent said, adding that a smooth cooperation between drones and planes will help the Chinese firm to become a global operator.
Editor: Emmi Laine