March 29 (SeeNews) - Croatian food and pharmaceuticals producer Podravka [ZSE:PODR] said it has started the construction of a 48 million euro ($52 million) logistics and distribution centre in Koprivnica.
It is the largest investment project under the company’s business strategy by 2025, Podravka said in a press release on Tuesday.
The new logistics facility will span an area equal to three football stadiums, replacing several smaller existing warehouses at several locations. It is situated next to Podravka’s factories which will reduce the need for internal transport, contributing to a cut in the company's CO2 emissions footprint.
Shares of Podravka traded 0.88% higher at 92 euro as at 1330 local time on Wednesday on the Zagreb bourse.
($ = 0.921 euro)