FedEx is to invest $1 billion in a major project at its Memphis hub to cope with customer demand for products including e-commerce.
The project is expected to cost over $1 billion over a six year period, with construction scheduled to start in 2019 and be completed by 2025.
It will include the construction of a large new sorting facility, installation of state-of-the-art sorting machines in the new building, construction of a bulk truckload building and a new area to improve handling of oversized shipments that have increased with the growth of e-commerce.
FedEx Corp chairman and chief executive officer, Frederick Smith says: “I want to thank Governor [Bill] Haslam and the State of Tennessee for their support of this investment in a transformational project for the FedEx Express hub in Memphis.”
He adds: “Modernisation and expansion of the Memphis hub will ensure that we continue to provide outstanding service to our customers around the world and make this an even better place to work for the thousands of team members here who keep our operations running every day and night.”