A number of new deals are pushing China’s cold chain into a larger footprint.
Franco-Chinese firm Cathay Capital Private Equity is buying a stake in Shanghai Zhengming Modern Logistics for 120 million yuan ($19.6 million). Shanghai Zhengming was established in 2011 and has more than 1,000 vehicles providing refrigerated shipping to brands such as McDonald’s, Mengniu Dairy and Haagen-Dazs in China. The size of Cathay Capital’s stake in Shanghai Zhengming wasn’t disclosed.
Keppel Telecommunications & Transportation has started building an 82-acre logistics park in Anhui, China.
Keppel Wanjiang International Coldchain Logistics Park will provide warehousing, cold chain and transport services for food and agricultural produce in the region.
“Keppel Wanjiang Logistics Park is a key element of Keppel T&T’s strategy in China, which focuses on food and agricultural produce and cold chain logistics,” said Pang Hee Hon, Keppel T&T’s CEO. “When completed, it will position us to capture demand arising for better food safety and also the growing middle class in Central China.”
Keppel T&T will seek to integrate operations of the logistics park with nearby Wuhu Sanshan Port along the Yangtze River, which started operations earlier this year and achieved more than 1 million metric tons in throughput.
Keppel holds a 60 percent share in the project, with the rest held by the Jin’an district government and private investors.