Business Daily from THE HINDU group of publications
Thursday, Aug 20, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Thursday, Aug 20, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Corporate
-
New Projects Snowman plans to expand capacity R. Balaji Chennai, Aug. 19 Snowman Frozen Foods Ltd, cold chain logistics service subsidiary of the Singapore-based Gateway Distriparks Ltd, is set to triple its capacity with an investment of Rs 100 crore ($20 million). According to International Finance Corporation’s Web site, the World Bank armis considering an investment of $5 million in Snowman. Snowman will bring in the balance funds for the expansion through internal accruals, said sources. Snowman is a joint venture between Gateway Distriparks (51 per cent) and Mitsubishi group of companies, Japan. IFC to take stakeMitsubishi is likely to dilute its stake to make way for IFC, said sources. Gateway Distriparks is a logistics company that operates container freight stations and depots across India. According to sources in the know, Snowman, which has a pan-India presence in cold chain storage and logistics infrastructure, plans to expand its capacity to about 30,000 tonnes — pallets in industry terms — over the next year-and-a-half. Its capacity is now about 10,000 pallets spread across 18 locations and a fleet of 77 reefer vehicles. Tier-II, III townsThe company plans to expand into Tier-II and III towns. It will either construct its own storage facilities or take existing facilities on long lease and retrofit them to modern specifications. More Stories on : New Projects | Supply Chain Management
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2009, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|