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Food ministry reviews asset monetisation plan that can fetch Rs 29000 crore
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Friday, 09 April, 2021, 08 : 00 AM [IST]
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Ashwani Maindola, New Delhi
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Piyush Goyal, Union Minister of Food & Public Distribution and Consumer Affairs, has reviewed the modernisation plan of Central Warehousing Corporation (CWC) along with the asset monetisation plan.
After the announcement made by Union Finance Minister Nirmala Sitharaman in this year’s Budget speech about asset monetisation plan, the food ministry has reviewed the assets of Central Warehousing Corporation and Food Corporation of India (FCI).
It is estimated that the asset monetisation plan for the food ministry can fetch around Rs 29,000 crore in the next few years.
It is learnt, the CWC would be the first to go for monetisation of its unutilised assets. Presently CWC has 423 centres across India and a land pool of around 3,500 acre.
Further, the CWC was also urged to bring in experts to achieve the goal.
Meanwhile, while reviewing CWC, Goyal suggested that CWC should prepare a masterplan for upgradation of its all 423 warehouses and do the storage gap analysis for agricultural produce and accordingly prepare plans.
CWC was also asked to double its warehouse storage capacity by end of year 2023 and achieve a turnover of Rs 10,000 crore by the Financial Year 2024-25. At present, CWC warehouse storage capacity is 125 LMT.
He asked CWC to focus on building cold storage chain in the country on priority basis along with upgradation of the wheat and rice storage facilities.
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