China and Hungary join forces to develop a new logistics center

A new 100,000 square meter Sino-European logistics and trade exchange center is to be built in Budapest. Koeman, owned by Chinese logistics company Tonglinada, will develop the project on land leased from the Hungarian firm Nonfungo. The parties signed a land grant contract towards this end on Monday 17 April, Railway Supply informs citing RailFreight.

The center will be located in Pest County, an area surrounding Budapest. According to Chinese media reports, the project will receive more than 30 million US dollars of investment. It aims to create a logistics center that will perform functions such as warehousing, distribution, consolidation, bundling and re-export trade.

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The project received support from the provinces of Hubei and Heilongjiang in China, as well as Pest County in Hungary. The first stage of the project will include the construction of the main warehouse structure, auxiliary facilities and railway lines. It is planned to be put into operation in early 2024, which will allow the storage and transportation of more than four million tons of goods per year. This new logistics hub could further strengthen Budapest’s role as a freight rail hub on the New Silk Road.

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