China’s Ritz-Carlton announced on Thursday that it will build the world’s largest logistics hub, a joint venture between the world class global logistics giant and the world renowned logistics firm Ritz.
The new Ritz Container Terminal (RCT) in Guangzhou, China.
The DSC is expected to bring in up to 10,000 jobs in logistics and logistics services to China, Ritz’s head of logistics, Jason C. Zhang, said at a press conference in Beijing.
China is set to become the world leader in logistics, which will be vital to the economic growth of the country, Zhang said.
The logistics giant is partnering with Ritz to create the new logistics hub in Guangdong, and it will be the world-leading logistics hub by 2020.
China has long been the largest logistics market in the world, with more than a quarter of global goods shipped on the world market.
Ritz was founded in 1885 and now has more than 40,000 employees worldwide.
The company employs more than 4,000 people worldwide.
China will become the biggest logistics market on the planet by 2020, and that will be thanks to its DSC, Zhang added.
Ritz Container Terminals is set for completion in 2021 and will open to the public in 2022, the company said in a statement.
“It is a great step forward for the future of the DSC and the industry as a whole,” said DSC President and CEO David Littman.
DSC Container Terminal will create up to 5,000 manufacturing jobs in Guangding and other regions of the Chinese mainland, the statement said.
The Dsc will be an industrial park, with over 40,00 employees, and will have over 2,000,000 square meters of floor space, according to the company.
Littman said the Dsc is expected “to support Ritz” with manufacturing, construction, logistics and services.
The new logistics facility will be a key component of Ritz’ growing operations, he added.
Ritz, the world leading logistics and warehousing firm, has been expanding operations around the world in recent years.
In 2019, the firm announced plans to add 3,000 new global warehouses and to expand to 40,0000 warehouse space globally by 2020 and 40,500 in China.
In 2016, R, which has operations in about 140 countries, announced a $250 million investment in China, which it expects to generate an additional $10 billion in economic growth in China by 2020 through its logistics services and warehouses, the Shanghai Daily reported.
According to the Dctrs global expansion plans, the Ritz container terminal will help Ritz continue its expansion, which is expected continue in 2021, according the statement.