The investment of $1.5 billion by FedEx will double its sorting facility while creating 200-400 jobs in the process.
U.S. package delivery service company FedEx has disclosed that it is set to invest $1.5 billion (1.4 billion euros) in Roissy, France in order to double the capacity of its logistics activities at the Charles de Gaulle International Airport.
Initially, FedEx will invest $220 million (200 million euros) for the extension of its facility at the Charles de Gaulle International Airport in Roissy. The balance amount of 1.2 billion euros will be spent on rent across 30 years.
Going by the documents handed over to French President Francois Hollande, FedEx will open a new package sorting facility in 2019 and in the process create 200-400 jobs.
“The opening of this facility is an additional sign of France’s attractiveness,” said Hollande.
He went on to add, “With the decision by Britons to leave the European Union, it should lead us to attract even more investments”.
With the addition of 25,000 square meters of space FedEx’s Roissy center is set to become its second largest sorting facility in the world, second only to the one in Memphis, USA.
Also listed in those documents which were handed over to President Hollande is TNT Express’s plan to open a new facility in France.
TNT Express was acquired by FedEx this May.