Adani Agrifresh to invest Rs1,000 crore in cold chain over three years
05 November 2007
Mumbai: Adani Agrifresh will invest Rs1,000 crore to create a farmgate-to-retaler supply chain of fresh fruits and vegetables, to emerge as a major player in the organised segment.
Adani Enterprises arm Adani Agrifresh has already invested Rs200 crore to set up three state-of-the-art controlled atmosphere cold stores and grading and packing houses, with a combined capacity of 18,000 tonnes, in Himachal Pradesh for apple trading.
The company has increased its procurement of apple by more than three-fold to 18,000 tonnes this year from 5,000 tonnes last season when it entered the market.
Adani Agrifresh, which started with apple last year, added grapes, pomegranate, orange, litchi and cherries since and is planning to enter vegetables segment in two years'' time.
"We have plans to invest Rs1,000 crore in the next three years to set up cold chain, pack houses, distribution centres and in expansion of capacity of present facilities," reports quoted company''s president Ravindra Jain as saying.
said Adani Agrifresh aims to be a long-term player in the perishable fruits and
vegetables sector, where the investment is very high and margin low.