November 15, 2017 / 10:50 AM / 7 months ago

Deutsche Post invests 335 million euros to expand DHL Hong Kong hub

FRANKFURT (Reuters) - Deutsche Post is investing 335 million euros ($397 million) to expand its DHL Central Asia hub in Hong Kong to bolster regional trade, increasing its throughput by 50 percent when operating at full capacity, it said on Wednesday.

FILE PHOTO - A Deutche Post sign stands in front of the Bonn Post Tower, the headquarters of German postal and logistics group Deutsche Post DHL, in Bonn, Germany March 11, 2015. REUTERS/Wolfgang Rattay/File Photo

“Given the expected rise in international e-commerce and intra-Asian trade, DHL is committed to strengthening our global network and services,” DHL Express Chief Executive Ken Allen said in a statement.

The expanded hub is expected to begin operation in the first quarter of 2022, in time for the completion of Hong Kong airport’s three runway system in 2024.

($1 = 0.8449 euros)

Reporting by Georgina Prodhan; Editing by Tom Sims

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