Mitsui invests in cold chain logistics business of Transport Corporation of India

Mitsui’s investment comes at a time when commercial and domestic demand for refrigeration in India is expected to quadruple.

Mitsui & Co, one of Japan’s largest trading companies, and a part of the Mitsui Group, has invested in TCI Cold Chain Solutions, which is a cold chain logistics business of Transport Corporation of India, amid rising demand for temperature-controlled logistics solutions in the country. 

Faisal Ashraf, MD, 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 (ICAP). Mitsui is eyeing to further develop and expand its food and retail businesses in India.” 

ICAP has also forecast that energy required to keep produce fresh at warehouses will increase almost fiftyfold from 22,000 MWh to 5.2 TWh, while the number of temperature-controlled reefer trucks will grow from approximately 15,000 in 2018 to 400,000 in 2038. 

“We expect the cold chain logistics industry in India to expand rapidly, now and in a post-COVID world, in response to growing demand from the pharmaceutical sector particularly for COVID-19 vaccines, changing consumption patterns with a growing preference for fresh agricultural produce, and the continued rise of e-commerce,” said Ashraf. 

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