Qingdao to open CNY 260 million seafood trade center
A massive seafood trading center with 300,0000-square-meter cold storage space will open in November in Qingdao, China’s premier seafood trading and processing hub.
First announced by local government in 2013, the North China International Seafood Trading and Cold Chain Logistics Trading Center, built on a on a 400-hectare site, is on schedule to be completed in November. The center cost CNY 260 million (USD 38.3 million, EUR 33.5 million) to build.
Its owners estimate the center will handle three million tons of seafood annually worth CNY 54 billion (USD 7.9 billion, EUR 7 billion). With its own docking area and located in the Dong Jia Kou economic zone, the center also includes an office tower, according to the Qingdao TV news channel, which showed workers pouring foundations for the walls of the three cold-storage warehouses.
However, given its size and price, there has been talk in Chinese media that the project may turn into a white elephant.