IFC seeking investors for Uzbekistan cold chain project

Tashkent, Uzbekista:  IFC, a member of the World Bank Group, is seeking investors to build and operate six refrigerated warehouses in Uzbekistan.

Appropriate sites have been identified in Fergana, Gallaorol, Samarkand, Bukhara, Kitab, and Oltinsoy with the help of World Food Logistics Organization. Its engineers have prepared schematic designs for each of the sites. Financing is available for qualifying investors. Interested parties can request a prospectus from Joseph Mik and Zafar Khashimov.

Prospective investors have an opportunity to assemble a portfolio of refrigerated warehouses in Uzbekistan. Uzbekistan grows between 6.5 and 7m tonnes of fresh produce. This crop is estimated to be worth between $1.8 and $2bn per year. Uzbekistan is an exporter of fruits and vegetables to the world’s largest importer by dollar value, the Russian Federation, providing investors active in wholesale markets with a ready access to hard currency revenues.

Uzbek farmers are also expected to become an important source of rental income for investors. Current availability of refrigerated warehousing in Uzbekistan is estimated to be no more than 60,000 tonnes. Less than 5% of the harvest is stored for future consumption. Of this figure, 80% is warehoused in facilities which lack temperature or humidity control. A lack of cold storage may contribute to post-harvest losses of between 20 to 40%. A shortage of cold storage has far-reaching consequences for Uzbekistan where agriculture accounts for 17.5% of GDP and 25% of employment.

Increasing cold storage capacity is a high priority for the government. Cabinet of Ministers Resolution No 105 dated 7 April 2011, calls for additional capacity of 120,800 tonnes to be built at a cost of $130m from 2011 to 2015. The Ministry of Foreign Economic Relations, Investment and Trade (MFERIT), operating through two subsidiaries – Uzmarkazimpex and Uzprommashimpeks – has retained IFC to identify investors capable of building and operating refrigerating at six sites.

NEWS DIGEST

Pelican BioThermal has new bulk shipper

Minneapolis, US: Pelican BioThermal has CoolPall Flex for pharmaceutical and life sciences applications. The system is an extension of Pelican BioThermal’s Crēdo, Chronos and CoolPall …

READ THE FULL STORY >

Rapid Recovery plays a key role in Asda retrofit

Bristol, UK: A-Gas Rapid Recovery played a key role in a large-scale refrigerant retrofit involving 110 convenience stores nationwide owned by Asda. Operating at night …

READ THE FULL STORY >

Carrier’s CNG Supra unit Piek certified

Rueil-Malmaison, France: Carrier Transicold’s new compressed natural gas (CNG)-powered Supra multi-temperature truck fridge has Piek certification, with a noise level below 60 dB(A). Noise reduction …

READ THE FULL STORY >

Kuehne+Nagel opens pharma hub in Chile

Santiago, Chile: Kuehne Nagel PharmaChain has a new logistics hub in Santiago de Chile providing multi-modal logistics for temperature-controlled door-to-door transport. The 17,600sq metre hub …

READ THE FULL STORY >

WHAT’S ON

Latest Tweets

Tican Chilled refleets with Ryder: bit.ly/2NJVeVx pic.twitter.com/AtPRsQDVKa

© 2018 Global Cold Chain News | Terms of use | Privacy Policy
Commercial Transport Publishing Limited, registered in England and Wales, Company No: 6453302. Registered Office: 6 Corunna Court, Corunna Road, Warwick CV34 5HQ