(Yicai Global) April 12 -- Shares of Ace Investment and Development rose after the Chinese supply chain logistics provider said it plans to invest CNY500 million (USD73 million) to build a cross-border supply chain base.

Ace Investment [SHA: 603329] finished 3.6 percent up at CNY15.81 (USD2.30) a share today, after gaining by as much as 6.7 percent in the morning.

The base, to be built in Lianyungang in China’s eastern Jiangsu province, will comprise a series of warehouses, including high-end temperature-controlled facilities, cold storage spaces, and specialized warehouses, that can handle more than 200,000 tons of goods annually, the Shanghai-based firm announced late yesterday.

Lianyungang is the starting point of the almost 12,000-kilometer New Eurasian Land Bridge, the most convenient east-to-west route between Asia and Europe connecting China with Rotterdam in the Netherlands by rail. The importance of the Chinese port city is continuously increasing as express rail traffic between the two continents grows year by year.

Ace Investment’s planned new supply chain base will be an important part of its supply chain business, the company said, enhancing the sustainability of the firm’s international business and expanding its commercial space.

Ace Investment’s majority-owned unit in Lianyungang will be responsible for building and running the project, it noted, without disclosing any further details.

Editor: Futura Costaglione