Shanghai Pudong International Airport Cargo Terminal (PACTL) has signed an agreement to establish a joint venture with Nantong Xingdong Airport offering handling services to airlines and forwarders in Nantong.
Registration of the new company, PACTL Nantong Xingdong Airport Cargo Terminal (PACTL NTG) is scheduled to be completed by the end of December 2016, registering a capital of RMB 18 million ($2.6 million).
Nantong Airport will be the largest shareholder with 51 per cent, and PACTL will have the other 49 per cent.
PACTL NTG will also launch passenger baggage handling and loading services when it goes live, and further services will be added in line with development and demand of joint venture customers in Nantong.
PACTL says this enables it to commence management of multiple cargo terminals and continue to expand its scope of business while Nantong Airport will benefit from significantly enhanced cargo handling capabilities, strengthening its position within the domestic air cargo market.