FNB News - CWC plans to add storage capacity of about 1.66 lakh MT in current fiscal

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CWC plans to add storage capacity of about 1.66 lakh MT in current fiscal

Monday, 04 January, 2016, 08 : 00 AM [IST]

Our Bureau, New Delhi

The Central Warehousing Corporation (CWC) has laid an outlay of construction of 1.66 lakh MT capacity storage in the current fiscal. The ministry of food and public distribution, in a statement here, has stated that Rs 181 crore have been earmarked for the purpose. Besides, the corporations will soon start operations at some rail-based facilities in the country.

According to the ministry, during the current financial year, CWC has planned to construct storage capacity of about 1.66 lakh MT with a financial outlay of Rs 181 crore. Further, CWC also plans to commence operations of private freight terminals at its rail-based facilities at Bamanheri (UP) and Nabha (Punjab) along with operation at Land Custom Station at Petrapole (West Bengal).

Additionally, CWC is operating at the Cargo Terminal of Integrated Check Post (ICP), at Attari (Punjab) on the Indo-Pak since April 2012 and at Agartala on Indo-Bangladesh Border assisting in the border trade.

Meanwhile, Union minister for consumer affairs, food and public distribution Ramvilas Paswan has asked CWC to increase its logistic operations for efficient storage of agri produce. Paswan has called upon CWC that it should become leading third-party logistics company to make supply chain efficient, economic and to reduce the wastage specially of agri produce.

The minister, while receiving a dividend cheque for 2014-15 from CWC, stated that this could be possible with addition of constructed storage capacity by 1.78 lakh MT. “Keeping in view the national priority for safer preservation of food grains procured for Central pool, utilisation of capacity for storage of food grains was given adequate attention,” he added.

The CWC has recorded a turnover of Rs 1,562 crore during 2014-15 as against Rs 1,528 crore achieved during the preceding year.

The ministry, in a statement here, said that CWC also achieved highest over gross operation margin of Rs 209 crore as against Rs 176 crore during 2013-14, registering a growth of 18.76%.

Keeping in view the excellent financial results, CWC has declared dividend for the year 2014-15 @54% as against 48% during the previous year. A cheque of Rs 20.21 crore was presented by Harpreet Singh, MD, CWC, to Paswan on December 30, 2015.