Golden Harvest Ice Cream Limited, a fully owned subsidiary company of Golden Harvest Agro Industries, has signed an agreement with IFC lnfraventures on Tuesday.
Under the agreement, the companies will cover feasibility, pilot and scale up of jointly investing in US$ 30 million (approximately) nationwide cold chain operation project in Bangladesh.
Both IFC lnfraventures and Golden Harvest Ice Cream plan to invest equity into the project.
A cold chain network is a logistics system, which helps maintain and provide a series of facilities to ensure ideal storage conditions for perishable items from the point of origin to the point of sales.
Local processed food makers are increasingly investing in building their cold chain networks to maintain the quality of products, industry insiders said.
Golden Harvest is Bangladesh’s one of the leading business groups with diversified interests in food, dairy, commodity, information technology, logistics, real estate, aviation, infrastructure development and insurance.
Each share of the Golden Harvest, which was listed on the Dhaka bourse in 2013, closed at Tk 37.90 on Tuesday.
