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Article: India : Snowman Frozen Foods To Raise $5 Mn From IFC.
- Article from:
- TendersInfo
- Article date:
- August 18, 2009
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Byline: Mamta03
Snowman Frozen Foods Ltd, a logistics company serving the frozen and chilled foods market, is seeking to raise around $5 million from International Finance Corp (IFC), the private investment arm of the World Bank. Snowman is a joint venture between Gateway Distriparks Ltd (Singapore), and Japanese firms Mitsubishi Corporation, Mitsubishi Logistics Corporation and Nichirei Logistics Group Inc.
The Bangalore-based firm has chalked out a capital expenditure plan of $20 million, and IFC will invest $5 million (~Rs 25 crore) for an equity stake. The company is spread across 16 locations and major cities like Delhi, Mumbai, Bangalore, Chennai, ...