Malaysia's Haisan Resources Bhd is set to invest US$12 million (RM41.4 million) in a new, state-of-the-art multi-temperature-controlled facility (MTCF) in Vietnam through its subsidiary- IGLO International Ltd.  Haisan, which is scheduled to have the ground-breaking on May 4 at the Viet Hoa Industrial Park of Ho Chi Minh City, expects the 14,250 sq m MTCF to be ready in the fourth quarter of 2007. 

The MTCF with 15,000 pallet spaces of chilled and frozen storage rooms would be able to provide temperatures ranging from +18C to -28C, targeting to handle higher value pharmaceutical and industrial commodities, besides frozen and chilled food products. 

Haisan Group Chief Executive Officer, Ong Chin Yet expects demand for cold storage infrastructure to increase, with the anticipated increase in trade, following Vietnam's entry into the World Trade Organisation (WTO) in January this year.  In addition, Ong said Vietnam with a population of 80 million, has vast growth potential for the cold logistics business in the food industry, and other FMCG (fast moving consumer goods) and pharmaceuticals, given the limited capacity offered by the existing two cold warehousing operators in Vietnam. 

Adapted from NST Business Times, 21 April 2007