Construction has begun on a £9 million cold storage facility and transport depot, the first of its kind in Northern Ireland, at Carn Industrial Estate.
The 52,000 sq ft warehouse facility, due to open in Autumn next year, will be the tallest in Ireland standing at 17.5 metres high and will allow products to be stored from -25 to +5 degrees.
A new venture for the Kilmore businessman, Carn Coldstore is expected to create 50 new jobs by 2020.
The cold storage and freezer facility will be equipped with state-of-the-art Co2 refrigeration equipment provided by Armagh company, Cross Refrigeration.
The site will also feature rain water harvesting technology, helping create further energy efficiencies and reduce the business’s carbon footprint.
Speaking about the investment, Carn Coldstore owner Patrick Derry said: “Carn Coldstore complements the services being delivered by Derry Refrigerated Transport, providing new and existing customers with convenient and reliable storage near at hand.
“It’s a substantial investment, and one we are putting to good use with advanced equipment that can deliver real-long term savings to us and our customers.
“It’s great to see construction moving swiftly at the site and we’re working with talented local builders and developers including MDK Construction to get the business operational by autumn next year.
“First Trust Bank and Grant Thornton have also been a great help on the project, getting finance over the line quickly and offering advice and support.”
Michelle Harbinson, Head of Business Acquisitions, First Trust Bank said: “We are thrilled to help Patrick realise his vision for Carn Coldstore and provide support across his growing business portfolio.
“Home to the most advanced equipment available in the sector, Carn Coldstore together with Derry Refrigerated Transport will provide businesses with much needed transport and cold storage facilities, particularly important to our expanding agri-food and retail industry.
“It’s great to see local business leaders like Patrick evaluate the marketplace and push for innovative growth opportunities.”
Richard Gillan, Managing Partner, Grant Thornton added: “With an investment of £9 million and the potential to create 50 jobs in the next two years, we were delighted to support Patrick with fundraising support and advice.
“Carn Coldstore is a fantastic facility which will be welcomed by many in the supply chain throughout the island of Ireland and the UK.
“It is important that entrepreneurs like Patrick Derry continue to receive the support they require as their businesses go from strength to strength. We wish him and the team well in this latest venture.”