(Yicai Global) Sept. 20 -- SF Holdings Group Co. [SHE:002352], the parent company of one of China's largest courier firms SF Express, is close to securing approval for a pre-feasibility study at its planned international airport development in Ezhou city, near Wuhan, the provincial capital of central Hubei province, local newspaper The Hubei Daily reported on its WeChat account on Sept. 19.

Construction of the 75-square-kilometer development, known as SF International Airport, is expected to start within 12 months through a total investment of CNY61 billion (USD9.2 billion).

Annual cargo throughput at the airport will reach 2.45 million tons and about 7.65 million tons, by 2025 and 2045, respectively, the company said.

The SF Express airport hub and logistics industrial park are planned to be based in Ezhou, where local land prices and labor costs are relatively low.

The development will make Wuhan the fourth city in the country to be served by two large airports.