Swire Pacific Cold Storage, the world’s third-largest in terms of capacity, inaugurated a CNY440 million facility in Shanghai as the company continues to expand into China’s rapidly growing cold chain logistics industry. The facility in Fengxian district has a capacity to provide 50,000 pallet positions, or 354,000 cubic meters of temperature-controlled space. It is the company’s first wholly-owned property on the Chinese mainland. “The opening of this new facility, one of the largest and most advanced of its kind in east China, is a significant milestone,” J.B. Rae-Smith, Swire Pacific’s Executive Director of the Trading & Industrial Division, said at the opening. “Our long-term plan is to build a nationwide cold chain logistics network of 13 large-scale cold storage facilities by 2020.” In addition to the Shanghai facility, Swire Pacific’s new facility in Langfang, Hebei province, is having trial operations. Two more cold storage facilities are under construction in Nanjing, Jiangsu province, and Ningbo, Zhejiang province. A third is being planned for Chengdu, Sichuan province. All these facilities are scheduled to commence operation between 2015 and 2016. The company’s first facility on the Chinese mainland, a joint venture with Guangdong Foodstuffs, started operations in 2008.