A LOCAL used car exporter has tied up with a China state-owned company to develop "the largest global automobile import and export facility in Asia".
First Automobile Global Pte Ltd said yesterday that it would build the Global Automobile Trading Centre with Tianjin Haowu Electromechanical & Auto Trade Co Ltd.
The landmark project, costing 300 million yuan (S$64 million), will be funded internally.
When completed, the trading centre - located in Tianjin's Dongjiang Free Trade Port Zone - will boast dedicated automobile conversion factories, offices, showrooms and restaurants.
Warehousing and logistics expertise will also be available to dealers.
A First Automobile Global spokesman told BT that the company would be tapping Tianjin Haowu's warehousing and storage resources, manpower solutions and machinery in managing daily transactions and operations.
It will, in turn, offer its expertise and system knowledge to train staff and create the necessary infrastructure for the conversion factory.
CEO Martin Ong explained that the Dongjiang zone was chosen due to favourable geographical and economic advantages.
This included the region's central role in facilitating international shipping and logistics in North China, its high level of economic openness and the support it has received from the authorities.
Some 50 acres of land (about 25 football fields) has been set aside to develop an international automobile trading park which will be used to attract car dealers worldwide.
Mr Ong said: "Once we've linked up with the American and European dealers, the facility will function as a full serviced global trading centre and more importantly, a geographical economic crossroads for international buyers and sellers to meet and do business."
First Automobile was established in 2003 to tap the growing export demand of used Right Hand Drive (RHD) Singapore vehicles.
"We have been exporting to over 13 countries throughout the Asia-Pacific region," the company says on its website.
