Mitsui to invest in Singapore refrigerated warehouse

News Story
- 16 May 2024 ( #1179 ) - Singapore
1 min read
The five-storey warehouse will be close to ports and highways
The five-storey warehouse will be close to ports and highways

Japanese shipping giant Mitsui OSK Lines will invest in a new cold storage warehouse project in Singapore that will include Asia’s tallest industrial refrigerator.

Construction of the five-storey automated warehouse in Jurong is expected to be complete at the end of 2025.

The 500,000 sq.ft (46,450 sqm) 100 m tall logistics hub will include ambient, chilled and frozen warehouse space as well as a 45 m high automatic storage and retrieval system (ASRS) on the top floor, believed to be the tallest industrial refrigerator in Asia, if not the world. 

The warehouse, close to the Jurong Fishery Port and major highways, will be integrated with neighbouring food manufacturing facilities.

It will have 130 loading bays, energy-efficient cooling equipment and rooftop solar panels to reduce its carbon footprint.

Commonwealth Kokubu Logistics, a Singaporean food logistics provider and a joint venture between Commonwealth Capital and Kokubu Group, one of Japan's largest food distributors, will be the anchor tenant.

The warehouse project is a joint venture between Mitsui OSK Lines’ MOL (Asia Oceania) unit and Kajima Development, a Singaporean subsidiary of Tokyo-based Kajima Corporation.

Under the deal, MOL will acquire half of Kajima's 49% shareholding in the project, with Commonwealth Capital retaining its 51% stake.

"We welcome the new tripartite partnership brought about by MOL's investment," says Andrew Kwan, group managing director of Commonwealth Capital. 

"We are excited about the new opportunities and synergies between Commonwealth Kokubu Logistics and the shipping giant."

The MOL Group currently operates frozen and refrigerated warehouse businesses in Kawasaki and Osaka in Japan and in Thailand.

The group says it aims to expand its investment in the frozen and refrigerated warehouse business, especially in Asia and other regions where demand is expected to increase due to future economic development and population growth.

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