Shanghai Pudong International Airport Cargo Terminal Co., Ltd. has signed an agreement with Nantong Xingdong Airport Co., Ltd. to establish a joint venture.

The JV company, PACTL Nantong Xingdong Airport Cargo Terminal Co., Ltd., will provide handling services to airlines and forwarders.

PACTL will hold 49% of the new company while Nantong Airport will hold 51%, with a total capital of ¥18 million (US$2.61 million).

The registration is expected to be completed by the end of December 2016, according to PACTL.

Nantong is located in Jiangsu province, approximately 110km northwest of Shanghai.