ATLANTA, GA, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Americold Realty Trust, Inc. (NYSE: COLD), through its joint venture RSA Cold Chain in Dubai, today announced plans to build and operate a new $35 million, state-of-the-art cold storage facility with 40,000 pallet positions, in the Jebel Ali Free Zone (Jafza) in the Port of Jebel Ali in Dubai. This investment builds on the strategic collaboration between Americold and DP World, the leading provider of worldwide smart end-to-end supply chain logistics with a global port infrastructure.
The new facility will offer multi-temperature capabilities and connect to DP World's best-in-class logistics solutions. Earlier this year, RSA Cold Chain entered into a long-term land lease agreement with DP World to support this development. Construction will start early 2024 and is expected to be completed by Q1 of 2025.
"The addition of critical temperature-controlled infrastructure and value-added services will enable a next generation cold chain offering in the Port of Jebel Ali in Dubai," said George Chappelle, CEO of Americold. "Americold is committed to investing in new and innovative long-term solutions that optimize the cold chain from production to consumption and support our mission of helping our customers feed the world. This partnership with DP World provides unique synergies that create significant value for both local and global customers. We're excited to bring this vision to life in Dubai with the first of many developments in the region."
"As a global leader in end-to-end supply chain solutions, DP World is always looking for ways to innovate and expand its logistics capabilities. We are delighted to partner with Americold and RSA to provide our customers with best-in-class temperature-controlled solutions for perishable goods, strengthening the resilience of the F&B industry in the UAE and the Middle East," said Abdulla Bin Damithan, CEO and Managing Director of DP World, GCC.
In March 2023, Americold announced a strategic investment into RSA Cold Chain in Dubai. The investment provided a scalable, investable operating platform for market entry and expansion in the Middle East and India. Construction is already under way to double the capacity of the current RSA facility in Dubai South. This, combined with the new development at the DP World port, will more than triple current capacity in the Dubai market to more than 70,000 pallet positions.
Collaboration between Americold and DP World began in 2021 and was formalized in November of 2022 with the signing of a Global Partnership Agreement. The planned development in Jebel Ali will be the first-of-its-kind to combine Americold's global temperature-controlled infrastructure with DP World's port infrastructure and end-to-end logistics solutions. This strategic combination will result in unprecedented optimization of temperature sensitive food flows in and out of the countries of the Gulf Cooperation Council (GCC).
This new multi-temp, multi-purpose facility will set the stage for future collaborative developments with DP World in the GCC that will further enhance the value proposition for Americold's global customers that do business in this key global region.
For Americold media enquiries, please contact:
mediarelations@americold.com
About Americold
Americold is a global leader in temperature-controlled logistics real estate and value-added services. Focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, Americold owns and/or operates 243 temperature-controlled warehouses, with approximately 1.5 billion refrigerated cubic feet of storage, in North America, Europe, Asia-Pacific, and South America. Americold's facilities are an integral component of the supply chain connecting food producers, processors, distributors, and retailers to consumers.
For DP World media inquiries, please contact:
Jack Rigby
Senior Manager Communications
jack.rigby@edpworld.ae
About DP World
Trade is the lifeblood of the global economy, creating opportunities and improving the quality of life for people around the world. DP World exists to make the world's trade flow better, changing what's possible for the customers and communities we serve globally.
With a dedicated, diverse, and professional team of more than 106,500 employees from 158 nationalities, spanning 73 countries on six continents, DP World is pushing trade further and faster towards a seamless supply chain that's fit for the future.
We're rapidly transforming and integrating our businesses - Ports and Terminals, Marine Services, Logistics and Technology - and uniting our global infrastructure with local expertise to create stronger, more efficient end-to-end supply chain solutions that can change the way the world trades.
What's more, we're reshaping the future by investing in innovation. From intelligent delivery systems to automated warehouse stacking, we're at the cutting edge of disruptive technology, pushing the sector towards better ways to trade, minimizing disruptions from the factory floor to the customer's door.
