COSCO Shipping International (SGX:F83) is set to launch phase 2 of the Cogent Jurong Island Logistics Hub through its subsidiary Cogent Holdings, according to a filing with the Singapore Exchange on Monday.
The expansion will further enhance the company's position in the logistics sector and is also aligned with Singapore's green and low-carbon goals, the filing said.
The new expansion phase will include the extension of the existing facility, optimization of operations through automated guided vehicles and an enhanced container depot.
Shares of the shipping and logistics company were up over 2% in recent trading.
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