The Hindu : Business : CWC ties up with RT Group for cold storage

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Wednesday, Oct 04, 2006
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CWC ties up with RT Group for cold storage

NEW DELHI: Giving a concrete shape to the proposed multi-crore cold storages in the country, the Central Warehousing Corporation has entered into a Rs. 1,000-crore joint venture with a private company.

"We hope this will be the beginning of the controlled atmosphere storage facilities to be set up in the country with private sector participation,'' the Chairman of CWC, S. K. Tuteja, told reporters here on Tuesday.

Official launch today

The joint venture between CWC and the RT Group, which would be officially launched on Wednesday by Union Agriculture Minister Sharad Pawar, would provide 21,000 cubic meters facility comprising 42 separate storage chambers.

To be christened Central Warehousing Cold Chain Pvt. Ltd, the company has planned an initial investment of Rs. 300 crore in the facility and has projected a further investment of Rs. 700 crore in five years.

According to Mr. Tuteja, the new technology will have the facility of using control elements like oxygen, carbon-dioxide, nitrogen and humidity levels with greater accuracy.

The facility, which is strategically located near to Azadpur Subzi mandi at Kundli in Haryana, marks the first phase of the company's plans to establish similar facilities across all metros, Mr. Tuteja added. — PTI

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