Kool-ex, a leading Pharma Cold Chain Logistics Service Provider is gearing up to become a full stack, end to end supply chain solutions provider to the pharma industry. The spread of services will include warehousing, secondary distribution, passive packaging, and blockchain for end to end tractability of pharma products, apart from its core existing business of providing temperature-controlled transportation.
In light of the same, for warehousing, Kool-ex announced its partnership with IndoSpace, to build customized, GDP/GWP compliant, temperature controlled, Pharma Distribution Centres across the country.
IndoSpace has the only pan-India network of Grade A warehouses in the country, and the partnership with Kool-ex will enable IndoSpace to venture into pharma warehousing.
As part of this unique asset-light deal, Kool-ex and IndoSpace will jointly design and set up three warehouses in the first phase by 2021 in proximity to Mumbai, Delhi and Bangalore. At 42,000 pallet positions in each warehouse, each of these warehouses will be the largest standalone Cold Chain Facility in the country. Kool-ex has plans to set-up 10-11 warehouses by 2023 making it the largest Pharma storage footprint in the country.
Also, Kool-ex informs that it is in advanced talks with investors to raise growth capital for these initiatives and has appointed KPMG in India for financial advisors to the process.
“We aspire to become the largest dedicated player in the Pharma warehousing space offering over 10-11 GDP/GWP compliant, multi-client, pharma distribution centres over the next three years. With a unique combination of primary and secondary distribution, warehousing, passive packaging and blockchain, we are moving towards the ambition of becoming the preferred full stack supply chain solutions partner to pharma industry. Our focus continues on offering high-quality integrated solutions as well as flexibility in adapting to pharma industry’s specific requirements with a pay-per-use model.”~ Mr. Rahul Agarwal, Director, Kool-ex Warehousing Limited
He added, “There is a huge opportunity to consolidate and optimize distribution network to reduce logistics costs. We are building these solutions taking into consideration the expected growth and consolidation in pharma, and are leveraging our years of knowledge, capabilities of our dedicated teams and guidance of seasoned pharma advisors. We are also augmenting our resources to capitalize on these growth opportunities.”
It is believed that the warehouses will enable consolidation in fragmented Pharma distribution, efficiency in operations, reduction in inventory, reduced handling losses, compliance & cost optimization, besides complete visibility in the chain.
Mr. Agarwal further added, “The IndoSpace deal is highly opportune, not only for us but also for the whole industry. Final draft guidelines issued by the Ministry of Health coupled by the unprecedented COVID impact makes it pertinent to bring more focus around quality, hygiene, visibility & sustainability. IndoSpace, with their pan-India network, echoed our vision of creating first-of-its-kind, world-class pharma storage in India. These units will be equipped with a modern, state-of-the-art temperature controlling system that will ensure the safety of sensitive cargo based on Good Distribution Practice (GDP) and Good Warehousing Practice (GWP).”
“We are delighted to partner with Kool-Ex as they venture into temperature-controlled warehousing. The amalgamation of IndoSpace’s warehousing expertise along with Kool-Ex’s cold chain logistics ecosystem will help in building the state- of- the-art infrastructure to support the growing needs of cold chain pharma warehousing and distribution in India. ”~ Mr. Rajesh Jaggi, Vice Chairman – Real Estate, Everstone Group