The Fast Group (FAST), a leading local cold storage end-to-end firm, is spending P2 billion in the next two years to expand its cold storage chain reach across the Philippines.
Chief executive officer and president William Chiongbian disclosed Wednesday the opening of two new major investments in Cebu and Cavite that successfully increased its cold storage capacity to 30,000 pallet positions from 10,000 in 2020.
“When it came to the choice of where to put our first major investment in the cold chain, it is no accident that we chose Cebu. The Group considers Cebu our home, where our businesses in shipping and logistics took root many decades past. It is also a strategic choice because of the urbanization and fast growth of Cebu,” he said in a virtual briefing adding that the company inaugurated the FAST Cold Chain Hub Cavite in July 2021, serving the Luzon cold chain requirements.
“These two hubs, plus the ones we manage for our principals, will bring our coldchain footprint to at least 30,000 pallet positions,” he said.