UK Supports Expansion of India’s Cold Chain Networks

Crystal Logistics Cool Chain Ltd., a cold chain logistics company has now kicked off the expansion of its cold storage warehouse in Howrah, West Bengal. Total warehouse capacity of the company is now 11,000 pallets, up from 5,000 pallets earlier. This is the largest cold store warehouse facility under one roof in India. The cold storage will store nearly 85,000 tonnes of food products by improving market access leading to increasing household incomes.

Crystal is supported by a $10mn investment from Neev Fund to help low-income states with equity partnerships for small infrastructure development. The Fund is backed by the UK’s Department for International Development (DFID)and SBI Capital Markets Ltd. Senior representatives from both SBI and DFID inaugurated the facility.

Bruce Bucknell, British Deputy High Commissioner in Kolkata said that he is delighted that British capital is supporting this expansion of an important business in West Bengal. The development of the cold chain infrastructure will allow more agricultural and food products to reach wider markets.

The increased cold storage capacity will benefit players across the marine value chain linking fishermen to large exporters. It has enabled prevention of food waste by creating an infrastructure that can house seasonal and perishable food products.

Varsha Purandare, MD & CEO of SBICAPITAL Markets said that SBI Group is delighted to support the development of essential cold chain logistics that secures rural and urban linkages to foster food security, truly enshrining the spirit of nation-building. The produce that is stored and shipped through the facility caters to export, institutional consumers, and domestic consumption which was otherwise inaccessible to the fishermen.

Manav Bansal, Chief Investment Officer, Neev Fund said that they are very happy with the way Crystal is interlocking freshness from farm to fork. Neev Fund believes that the impact this has created, particularly in the marine industry, is significant. Soon they will be making a foray into other states, he said.

UK’s investment in the Neev fund aims to support its enterprises, institutions and markets in achieving their full potential, Crystal Logistics is a good example of that support.