'CWC achieved an all-time high turnover of Rs 1,030 cr last year'
Central Warehousing Corporation (CWC) was established in 1957. It runs 473 warehouses across the country with a total capacity of 10 million tonnes.india Updated: Aug 22, 2011 00:23 IST
Central Warehousing Corporation (CWC) was established in 1957. It runs 473 warehouses across the country with a total capacity of 10 million tonnes. It has also promoted 17 state warehousing corporations (SWCs) in association with the respective state governments. As on August 2011, these 17 SWCs were operating 1,612 warehouses with a storage capacity of about 24 million tonnes. CWC’s MD
BB Pattanaik spoke to HT on a range of issues. Excerpts:
Can you elaborate on the main activities of the CWC?
The CWC provides scientific warehousing facilities for more than 400 commodities including foodgrains, agro inputs and produce, industrial raw materials, finished goods, imported dutiable cargo under Custom Bond, exportable cargo, delicate and perishable goods including pharmaceuticals. Though initially established for storing foodgrains s, CWC has diversified its activities from time to time. It runs 66 custom-bonded warehouses, 36 container freight stations (CFS) and internal container depots, four air cargo complexes and three temperature-controlled warehouses. The corporation also runs container trains between Delhi and Jawaharlal Nehru Port, Delhi-Mundra Port and Delhi-Pipavav Port.
How has been the performance of the corporation last year?
The year 2010-11 has been a satisfying year. The overall capacity utilisation has increased from 85% to 88%. About 54% of its total capacity was utilised for storage of foodgrains, the single biggest and bulk depositor being the Food Corporation of India (FCI). In spite of increase in storage, CWC achieved an all time high turnover of Rs 1,030 crore during 2010-11 as against R988 crore during 2009-10. Its profit before tax increased from Rs 164 crore to Rs 204 crore in 2010-11, registering an increase of about 24%. Considering the financial results, the board of directors has recommended payment of dividend at 40% rate as against 38% paid during 2009-10.
What plans are you taking to augment the storage capacity?
During 2010-11, CWC had created an additional storage capacity of 1.45 lakh million tonnes in 10 states. In 2011-12, the corporation has plans to construct an additional storage capacity of 2.09 lakh million tonnes with a total financial outlay of about R78 crore.
What are your expansion plans?
Our CFS at Kannur will be ready by March 2012. We are likely to commence operations of private freight terminals at two of our rail-based facilities at Bamanheri (UP) and Nabha (Punjab). We have plans to set up a land custom station at Ghojadanga (West Bengal), similar to our facility at Petrapole (West Bengal). The amount has been deposited with the Government of West Bengal for acquisition of 8.54 acres of the required land.