Alibaba signs agreement with Belgium for e-commerce trade hub

Technology

Robots operated by Alibaba’s logistics unit Cainiao, move parcels at a new automated guided vehicles (AGV) warehouse inside the hub of delivery company YTO Express, in Hangzhou, Zhejiang province, China September 14, 2018. REUTERS/Stringer

BEIJING (Reuters) – Alibaba Group Holding Ltd said on Wednesday it has signed an agreement with the Belgium government to launch an e-commerce trade hub, which will include investments in logistics infrastructure.

The project is part of Alibaba’s Electronic World Trade Platform (eWTP) and the company has made similar agreements in Southeast Asia and Africa.

Alibaba’s logistics arm, Cainiao, will lease a 220,000 square meter logistics hub at Belgium’s Liege airport as part of the deal and invest an initial 75 million euros ($85.04 million) in the project.

Reporting by Cate Cadell; editing by Darren Schuettler

Products You May Like

Articles You May Like

Mongolia suspends KFC outlets after hundreds show food poisoning symptoms
U.S. arrests Coast Guard officer who planned mass attack: prosecutors
Amid trade talks, China urges U.S. to respect its right to develop, prosper
Actor Jussie Smollett staged attack because he was ‘dissatisfied’ with salary: police
The real ‘Jaws’: Great white shark’s genetic secrets revealed

Leave a Reply

Your email address will not be published. Required fields are marked *