Cold Storages

Indian government plans 25 more cold storages

Industry Overview

Government of India is planning to set up 25 more cold storages across the country to reduce wastages of fruits & vegetables. Currently, India processes only 2.2% of its produce which is way behind countries like Philippines and Malaysia. Improving cold storages will be a good start to extend the life of food produce. It has earlier awarded 10 cold storages of it 8 facilities are nearing completion. Government provides upto 40% of cost as grant in cold storage infrastructure

Cold storage infrastructure to get incentives

Industry Overview

According to Union Budget 2009, any expenditure to build and operate such facilities (other than land )  can be fully treated as deductions for tax. India is the second largest producer of fresh fruits and vegetables in the world, and the proposal is aimed at reducing wastage of perishables. Indian Cold Storage industry is estimated at USD 2.6 billion and this contains 88 % of surface storage and the rest in mobile storages. Currently, this has few players like Blue Star, Snowman, Crystal, Refcon, Carrier, Bulkani Deep Freeze, RK Foodland, Trans Cold Chain, Sensitech, Fresh & Healthy(Concor), Apollo Everest Kool Solutions, GATI (Kausar) and Tata Voltas.

KAPPEC sets up IQF facility in Hubli

KAPPEC

StanChart keen on funding cold storages or refrigerated transport

Finances