FedEx to Invest $1.5 Billion in France to Double Capacity at Charles de Gaulle Airport
French President Francois Hollande (3rd left) and CEO and President of Fedex Express David Bronczek (4th left) pose with the French employees of the company on the tarmac of the Roissy Charles de Gaulle Airport next to its hub during the presentation ceremony of the future extension hub in the North of Paris, France, Oct. 18, 2016. Photo by Etinne Laurent/Reuters.The initial investment by FedEx will amount to $220 million for the extension of its facility in Roissy, the remaining money representing the guaranteed total amount of rent over 30 years.
FedEx ranks No. 2 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
Under the plan, FedEx plans to open a new package sorting facility in 2019, creating between 200 and 400 jobs, according to a document handed out during a visit by President Francois Hollande.
"The opening of this facility is an additional sign of France's attractiveness," Hollande said.
"With the decision by Britons to leave the European Union, it should lead us to attract even more investments," he added.
The extra 25,000 square meters of space will make FedEx's Roissy center its second biggest in the world after the one in Memphis in the United States.
Delivery service company TNT Express, which was bought in May by FedEx, also plans to open a new facility in the Parisian region, according to the same document.
