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China’s Zongteng Group partners with post company CTT for Portugal and Spain

Eight million euro joint venture will expand locker network to 3,000 pick-up points across the Iberian peninsula.

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Eight million euro joint venture will expand locker network to 3,000 pick-up points across the Iberian peninsula.

ARTICLE BY

PUBLISHED

UPDATED: 22 Dec 2023, 4:40 am

CTT – Correios de Portugal, S.A. has partnered with YunExpress, the logistics business unit of China’s Zongteng Group.

The deal will create a joint venture managing a locker network for parcel pick-up in Portugal and Spain. It will “develop CTT’s network of lockers for e-commerce in Portugal, which will be open to any carrier,” CTT said.

CTT will have a majority 66 per cent stake in the new company and YunExpress will hold the remainder.

“CTT plans to install 1,000 lockers by the end of 2022, thus offering the largest and national network that will join the current network of more than 2,000 CTT pick-up points where clients can collect their parcels,” CTT said.

The new venture will represent a joint investment of around 8 million euros over three years.YunExpress is a CTT customer and partner, being a cross-border aggregator from Asia, with strong logistics expertise. The locker network will also be supported by different national suppliers, from metal work to software, allowing greater autonomy and technological agility, CLBrief reported.

“As a solution for both those who sell and those who buy online, the lockers will also complement the CTT pick-up point network, with an innovative solution, strengthening CTT’s differentiated positioning in the entire e-commerce value chain and reinforcing CTT’s close connection with its customers,” CTT added.

 

UPDATED: 22 Dec 2023, 4:40 am

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