Horizon Industrial Parks, a portfolio of Grade-A logistics parks in India owned and managed by Blackstone Real Estate funds, has set up the first cold chain facility in Bangalore for IG International, one of India’s leading fresh fruit importers.
Powered by solar energy, the facility in Horizon Industrial Park will be one of the largest cold chain terminals in India with the capacity to handle more than 200 refrigerated containers per day. The facility is expected to be completed by mid-2023.
Tarun Arora, Director, IG International, said, “India's fresh fruit imports hit record levels in 2021. To satisfy the growing appetite, we require a cold storage facility to ensure we can preserve quality and safety across the supply chain and reduce lead time. Horizon demonstrates its cutting-edge cold chain facility can meet our stringent safety standards and improve our operational efficiency.”
Rahul Pandit, Chief Executive Officer, Horizon Industrial Parks, said, “Cold chain facility requires a high degree of storage specifications to ensure product quality and maintain the freshness of the food. We’re proud to offer IG International a new facility that stores their products at the highest quality and assures an efficient and speedy distribution process.”
Horizon Industrial Parks has one of the largest portfolios of warehousing and industrial parks in India. The 25 million square feet portfolio is anchored by tenants in fast-growing sectors such as e-commerce, retail, automotive and auto components, electric vehicles, and logistics. Horizon Industrial Parks is a logistics platform in India, owned and managed by Blackstone Real Estate funds.
The current portfolio comprises 17 industrial and logistics parks located in eight key markets. These parks are spread across 1,000 acres and have a development potential of 25 million square feet.
