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Snowman Logistics expands cold storage infrastructure in India

New Delhi, India: Snowman Logistics is expanding its cold storage facilities in various locations in India.
“We offer state-of-the-art cold storage services for commodities, which promotes food security and stabilizes prices,” said Ravi Kannan, Snowman Logistics, chief executive.

“Expansion of our storage facilities will help Snowman be a leading player in the emerging retail and food sector.”

IFC, a member of the World Bank Group, is providing a $6.5m loan for the expansion. “IFC’s investment in Snowman will help lower overall logistics costs and reduce wastage associated with Snowman’s clients, most of whom are in the agriculture and food sector,” said Anita M. George, IFC Director for Infrastructure in Asia. “This is an ongoing strategic partnership with Snowman.”

IFCinvested $5m in Snowman in 2009 to add storage capacity in India.  Snowman provides cold chain distribution to  4,400 outlets 16 facilities cold stores located in Mumbai, Chennai, Bangalore, Hyderabad, Kochi, Kolkata, Ludhiana, and Vishakapatnam.