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CTT, Zongteng Group partnership to deliver goods sold online

The Portuguese postal service, CTT, and the YunExpress logistics service run by Zongteng Group of China are getting together to set up secure boxes in Portugal and Spain where buyers can pick up goods bought online, the ECO website reports.

The Portuguese website says CTT told the Portuguese stock exchange last week that it means to set up boxes in 1,000 places on the Iberian peninsula.

The report says the partners will invest 8 million euros (about US$9 million) in the joint venture over the next three years.

CTT will own 66 per cent and YunExpress the rest, the ECO website says.

Separately, a Portuguese weekly publication, Expresso, quotes CTT as saying any online seller will be able to have its goods delivered to the boxes.

Zongteng Group expects the joint venture to speed up its penetration of the EU market, the report says.