COSCO Shipping International (SGX:F83) conducted a groundbreaking ceremony for the second phase of its Jurong Island Logistics Hub, according to a filing with the Singapore Exchange on Tuesday.
The project is part of the company's need to meet growing demand for specialized logistics services for the petrochemical and chemical sectors in the region.
The groundbreaking comes after the first phase reached full warehouse utilization within three months.
The phase 2 comprises 2.5 hectares of land with around 62,500 square meters of built-up area that is expected to nearly double the hub's capacity.
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