Golden Harvest to set up cold storage chain

Golden Harvest Ice Cream Limited, a fully owned subsidiary of Golden Harvest Agro Industries, signed an agreement with IFC lnfraVentures on Tuesday to set up cold chain warehouses across the country. The company says the temperature controlled logistics infrastructure would be used in keeping and distributing goods in the freshest possible manner and in reducing wastage which results from non-temperature controlled movement. The project aims to ensure consumer safety, reduce post-harvest losses, remove middlemen, and reduce variations in quality. It would also ensure hygiene, freshness and quality, including reduction in formalin use on food products.

Initially the warehouses would be set up in Dhaka, Chittagong, Gazipur, Jessore and Khulna. “Anyone can keep their products in these warehouses,” said Mohius Samad Choudhury, a director of Golden Harvest. The services will cater to sub-sectors such as agribusiness, supermarkets, dairy, meats, restaurants (quick service and fine dining), seafood and fish, pharmaceuticals, e-grocers and e-commerce. IFC InfraVentures is a $150 million global infrastructure project development fund that has been created as part of World Bank Group’s efforts to increase the pipeline of bankable projects in developing countries.

Each share of Golden Harvest, listed on Dhaka Stock Exchange in 2013, closed at Tk 40.5 yesterday.