AC Logistics, a new subsidiary created by Ayala Corporation (AC) for its investments in the logistics sector, has formed a joint venture agreement with Glacier Megafridge Inc. to construct, operate and maintain a cold chain facility in Cagayan de Oro City.

This was disclosed in AC’s latest quarterly report as shown below.

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As shared by 2TradeAsia in Twitter, construction is expected to be completed in the 4th quarter of 2022.

It can be recalled that Glacier Megafridge had initial plans to put up a 20-hectare cold storage and logistics complex in the city. See our old posts last 2019 below.

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