The new 10,000-sq.m. headquarters and logistics center will be built under a 24-year BOT contract financed by UPS.
United Parcel Service Inc. (NYSE:UPS) has begun construction of its NIS 45 million UPS terminal at Ben Gurion Airport, located opposite the old airport terminal. Construction is due to take a year, and the company expects to move to the new 10,000-sq.m. premises in early 2008.
The new terminal is located in the new Israel Airport Authority’s logistics center, and is currently the only commercial building under construction at the site. It will serve as UPS’s Israeli headquarters, import and export center and customs house.
Construction will be under a 24-year build, operate, transfer (BOT) contract financed by UPS, which will rent the building at a discount during this period.
Published by Globes [online], Israel business news - www.globes.co.il - on December 31, 2006
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