FedEx to build cargo hub in Shanghai

FedEx Express is spending 100 million U.S. dollars to set up an express and cargo center at Shanghai's Pudong Airport, the company and airport officials said Thursday.

The facility, capable of handling up to 36,000 documents and parcels hourly, is expected to go into operation in 2017, the company said, adding that the center will meet the company's regional expansion requirements for the next 30 years.

FedEx will increase the number of cargo flights at the airport from the current 68 weekly flights, the company said.

Li Derun, president of Shanghai Airport Group (Company) Ltd., said the presence of UPS, DHL and FedEx centers will further boost Shanghai's role as a regional logistics center for air cargo.