Zhejiang Semir Garment (002563) plans to spend 250 million yuan to build a warehouse and logistics center in Wuqing district, Tianjin, to provide sales, logistics, and settlement services for its north China business, reports Yicai, citing a company filing.
According to the filing, the garment producer will set up a wholly-controlled subsidiary in Tianjin to operate the center, which will cover an area of 185 mu (one mu = 666.67 square meters), with construction area of 65,000 square meters.
The center will allow Semir Garment to improve logistics efficiency and lower operating cost, said the company in the filing.
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