China Knowledge - Hong Kong-listed Goldin Properties Holdings Ltd., Tianjin Port (Group) Co and Dongjiang Free Trade Port have inked the "Goldin Wine Wholesale and Distribution Center" agreement to jointly build the world's largest wine distribution center in Tianjin, one of China's four municipalities, sources reported.
The distribution center will be located in Dongjiang Free Trade Port zone, one of the largest free trade zones in China in the city's Binhai New District, and it involves an estimated investment of US$30 million.
Reportedly, the project will kick off construction in the beginning of this year and start operation in early 2012. The center could store 7.7 million bottles of red wine.
Upon the completion of the center, it will become the world's largest center for the distribution, storage and wholesale of red wines, with annual sales of RMB 10 billion.
