Mitsui & Co. has purchased an equity stake in an Indian temperature-controlled logistics service company to enter the country's cold-chain distribution market.

Mitsui has agreed on the investment deal with TCI Cold Chain Solutions Ltd., a Transport Corporation of India Ltd. subsidiary engaged in distribution services for frozen and refrigerated goods, a spokesperson for the Japanese trading giant told NNA, without giving any other details.

Mitsui's latest move comes as demand for food delivery services and frozen foods in India is expected to grow further and faster given the expansion of the middle-income class and progress in women's social advancement there.

Mitsui expects its expertise in the global cold-chain logistics business to help improve and diversify relevant operations in the country, where the bulk of warehouses as well as delivery and distribution networks have only elementary functions.

Repackaging and processing at warehouses and delivery time management are among the elements that leave room to be worked on, according to Mitsui, which looks for future expansion into the home meal replacement and frozen food businesses in India.

Mitsui and Transport Corporation of India have been in business partnership since 1999, when they formed an automotive logistics joint venture. TCI Cold Chain Solutions was spun off from the parent in 2018. (NNA/Kyodo)

==Kyodo

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