Vibrant subsidiary acquires land in Chongqing

SINGAPORE (July 31): Vibrant Group announced that 31% owned Vibrant-Pucheng on July 20 acquired a 217,788 sqm land in Chongqing.

Vibrant-Pucheng was known as Vibrant Pucheng Logistics (Chongqing) before its successful conversion into a Foreign Investment Enterprise.

The land worth RMB176.4 million ($3.4 million) has a lease period of 50 years and will be developed into a multi-modal logistics distribution centre that will provide the integration of land, sea and air logistics services for the One Belt One Road initiative (OBOR) and the Chongqing Connectivity Initiative (CCI) between Singapore and China.

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