Mumbai, February 2017: Snowman Logistics Limited has signed a Memorandum of Understanding (MoU) with The Government of Andhra Pradesh to set up temperature controlled warehouse at Sri City, a special economic zone located in Chittoor District, Andhra Pradesh. Snowman will invest approximately Rs.30 Crores in this project which will mainly cater to existing and upcoming food processing units in Sri City.

Snowman plans to build a 10,000 pallet position multi-temperature cold storage in phased manner, starting with 5,000 pallet positions in phase-I. The project will be financed mostly from internal accruals.

Sri City – an integrated business city, as it is called, has become one of the most attractive manufacturing locations for the food brands. With well laid out industrial park, most of the multinational and national food brands have already occupied land portions to setup manufacturing plants. Sri City is well connected with road, rail and sea network. With just 55 km distance from Chennai, it is also an attractive location to cater to EXIM volume. With the focus on food and import/export, Sri City emerges as an upcoming location for FMCG and agri based volume for Snowman. Availability of water and power is another attraction to this location. With GST, round the corner, Sri City can become a major point of consolidation.

“We are excited about this project. This aligns with our strategy to provide pan India network to our clients from source to stores.” said Sunil Nair, Chief Executive Officer, Snowman Logistics Limited.