A group of investors backed by the African Development Bank (AfDB) has announced plans to set up a Sh7.5 billion cold storage facility at Ruiru’s Tatu City development.
AfDB and its investment partners in the ARCH Emerging Markets Partners Limited (ARCH) will put up the facility known as Cold Solutions Kenya Limited on six acres at the 5,000-acre Tatu City Development special economic zone owned by Rendeavour.
AfDB which invested Sh2.5 billion in the Sh25 billion Africa-focused fund (ARCH) revealed the cold storage facility is a flagship project to be replicated in Ethiopia, Kenya, Rwanda, Tanzania, and Uganda, totalling 10 facilities worth Sh21.4 billion.
ARCH Kenya managing director Jared Irving confirmed the investment saying Cold Solutions’ is a one-stop-shop platform that ensures quality of fresh produce destined for sale within Kenya and across the East African markets.
“It will allow businesses to keep track of products in real-time and facilitate transportation across East Africa through temperature-controlled trucks, either within inner city or to long-haul destinations. We will offer end to end storage, transport and management services,” he said.
The facility, set for commissioning in 12 months, will provide storage for fresh fruits, vegetables, pharmaceuticals and vaccines, meat, poultry and frozen foods.