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| Haisan’s Vietnam facility ready by Q4 |
April 21 2007
HAISAN Resources Bhd's subsidiary IGLO International Ltd will break ground for its new, state-of-the-art multi-temperature-controlled facility (MTCF) on May 4 in the Viet Hoa Industrial Park of Ho Chi Minh City, Vietnam.
THE US$12 million (RM41.4 million) MTCF is not only meant for frozen and chilled food products, but also aims to serve higher end industries for the storing of pharmaceutical and industrial commodities, Haisan said in a statement.
The 14,250 sq m MTCF, due for completion in the fourth quarter of 2007, will comprise 15,000 pallet spaces of chilled and frozen storage rooms in different racking configurations, which can accommodate temperatures ranging from +18°C to -28°C.
Haisan group chief executive officer Ong Chin Yet said Vietnam’s admission to the World Trade Organisation (WTO) in January this year has expanded the countr y’s capacity to penetrate widely into the global trade market.
"Vietnam’s economic growth will accordingly require the development of its logistics infrastructures.
"his has translated to a rising demand for cold storage infrastructures to cater to the increasing volume of production and trade,” he added.
There are now only two main operations of cold warehousing in Vietnam and Ho Chi Minh City in particular, which is not sufficient to meet demand.
"With a population of almost 80 million people, we project Vietnam would be a significant market for the cold logistics business especially in the food business, and other FMCG (fast moving consumer goods) products and pharmaceuticals.
"Haisan projects to carve out a significant portion of the cold warehousing market to add and contribute to its growing bottomline,” the statement added.
©btimes. 20070421
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