DHL Express says to invest $175 mln in Shanghai hub

SHANGHAI, Nov 26 (Reuters) - Deutsche Post's (DPWGn.DE: Quote, Profile, Research, Stock Buzz) delivery arm DHL Express said on Monday it would invest $175 million to build its North Asia hub in Shanghai.

The facility is due for completion in the second half of 2010.

DHL, FedEx Corp (FDX.N: Quote, Profile, Research, Stock Buzz) and UPS (UPS.N: Quote, Profile, Research, Stock Buzz) are competing to expand in China's express delivery market as rocketing global trade drives demand for freight and logistics services.

The DHL facility will be the third foreign-funded air hub in mainland China and the second of its kind in Shanghai. FedEx has committed to building a hub in the southern city of Guangzhou while UPS is building a hub in Shanghai. (Reporting by Fang Yan; Editing by Edmund Klamann)