Bengaluru: Kool-ex, a leading Pharma Cold Chain Logistics firm has entered into a partnership with IndoSpace to develop temperature controlled warehouses across the country as it looks to tap into the growing need of cold storage facilities for COVID19 vaccine.

As part of the asset-light deal, Kool-ex and IndoSpace will jointly design and set-up 10-11 warehouses by 2023, making it the largest Pharma storage footprint in the country.

Each warehouse will be developed on 15 acres of land parcels with a built up area 3.5 lakh per sft each. These facilities will come across cities like Mumbai, Delhi-NCR, Kolkata, Bangalore and Ahmedabad amongst others.

“Final draft guidelines issued by Ministry of Health coupled by the unprecedent COVID impact, makes it pertinent to bring more focus around quality, hygiene, visibility & sustainability. These units will be equipped with a modern, state-of-the-art temperature controlling system that will ensure the safety of sensitive cargo based on Good Distribution Practice (GDP) and Good Warehousing Practice (GWP),”said Rahul Agarwal, Director, Kool-ex Warehousing .

In the first phase three warehouses will be developed by 2021 in proximity to Mumbai, Delhi and Bangalore. At 42,000 pallet positions in each warehouse, each of these warehouses will be the largest standalone Cold Chain Facility in the country.

Rajesh Jaggi, Vice Chairman – Real Estate, Everstone Group said, “The amalgamation of IndoSpace’s warehousing expertise along with Kool-Ex’s cold chain logistics ecosystem will help in building the state- of- the-art infrastructure to support the growing needs of cold chain pharma warehousing and distribution in India”.

IndoSpace is the pioneer and largest investor, developer and manager of modern industrial and logistics real estate in India and has taken total commitment to India to above US$ 3.2 billion. Its customers include IKEA, Amazon and Nissan.

Separetely, Kool-ex is also in advanced talks with investors to raise growth capital for these initiatives and has appointed KPMG in India for financial advisors to the process. The firm was advised by CREDBERG Advisors on the IndoSpace deal.

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