GLP: To establish a JV partnership where GLP will own a 60% stake in Zhejiang Transfar Logistics Base. The JV will own 3 assets that are masterleased to the operator of Transfar Road-Ports. Going forward, GLP will develop and operate logistics parks adjacent to future road port projects providing a total solution platform for customers.
Transfar Road-Port currently owns the three operational road ports projects in Hangzhou, Suzhou and 75% of a Chengdu project with a total NLA of 951.3k sqm. Co is of view that it has the option to convert these assets to warehouse facilities if necessary. Roads remain the main medium of freight transportation with 77% mkt share.
What are road ports? Apparently a port for trucks with logistics facilities.
http://www.etransfar.com/en/business/logistics.html (http://www.etransfar.com/en/business/logistics.html%3C/a%3E%3C/i%3E%3C/b%3E%3Cb%3E%3Ci%3E)
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