Americold Partners With RSA Cold Chain And DP World To Bring A $35M New State-Of-The-Art Cold Chain Logistics Platform To Dubai
Portfolio Pulse from Benzinga Newsdesk
Americold Realty Trust, Inc. (NYSE:COLD) has announced a joint venture with RSA Cold Chain and DP World to build a $35 million cold storage facility in Dubai. The facility, with 40,000 pallet positions, will be located in the Jebel Ali Free Zone and is expected to be operational by Q1 of 2025. This investment is part of Americold's strategic expansion in the Middle East and India, aiming to triple Dubai's current capacity to over 70,000 pallet positions. The collaboration with DP World began in 2021 and was formalized in November 2022, enhancing Americold's global temperature-controlled infrastructure and DP World's logistics solutions.
December 12, 2023 | 9:11 pm
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Americold Realty Trust is expanding its global presence by investing in a new cold storage facility in Dubai, in partnership with RSA Cold Chain and DP World. The facility is part of a strategic initiative to increase capacity and enhance logistics solutions in the Middle East.
The announcement of a new state-of-the-art facility in Dubai represents a significant expansion for Americold and is likely to be viewed positively by investors. The investment in infrastructure and the partnership with DP World are strategic moves that could lead to increased revenues and market share in the Middle East. This news is likely to have a positive short-term impact on Americold's stock price, given the expansion of services and capacity in a key global region.
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