Chennai, Mar 9: Apollo Logi Solutions Ltd (ALL), a subsidiary of Apollo International Ltd, has entered into a joint venture with Spire Group of Toronto to construct and operate temperature-controlled warehouses in India.
The joint venture, being set up with an investment of US Dollar 250 million, would operate under the name Apollo Everest Kool Solutions, a company release said here today. Spire concluded the pact with Apollo Logi as part of its global expansion in the developing markets. It had facilities worth US Dollar 450 million under contract in Romania, Maldova, Bulgaria, Ukraine, Russia and Montreal (Canada).
The joint venture would construct up to 15 warehouses in India, with the first two in Mulund and Panvel. Spire Group would join with Apollo LogiSolutions in designing and constructing these facilities, the release added.