Gurugram, Haryana, India: Mitsui & Co, one of Japan’s largest trading companies, and a part of the Mitsui Group, has invested in TCI Cold Chain Solutions, a cold chain logistics business of Transport Corporation of India.
The investment comes amid rising demand for temperature-controlled logistics solutions in India the two companies said in a joint press release.
Details of the deal were not disclosed but Mitsui plans further expansion of its food and retail businesses in India, Faisal Ashraf, managing director, Mitsui & Co India, said.
Mitsui’s investment comes at a time when commercial and domestic demand for refrigeration in India is expected to quadruple in India to 2,400,000 tonnes of refrigeration over the next 20 years, according to the India Cooling Action Plan.
