CWC presents dividend cheque to Sharad Pawar

New Delhi, Oct 27 (ANI); The Central Warehousing Corporation (CWC) presented a cheque of Rs. 11.22 crore as dividend for the year 2008-09 to Union Minister of Agriculture Sharad Pawar here today.

The cheque was presented by Managing Director B.B. Pattanaik.

Despite economic slow down, the CWC achieved yet another record turnover of Rs. 849.25 crore during 2008-09 as against Rs. 776.23 crore during last year thus posting a growth of 9.41 per cent.

This high performance could be achieved due to increase in storage capacity by about 6.5 lakh MT and substantial increase in capacity utilization to 82 per cent as against 73 per cent of the previous year.

This happened mainly on account of increase in storage of foodgrains and cotton procured by the FCI and the CCI and the NAFED.

Besides, handling of containers, revenue earned out of container rail transport operations and pest control activities also registered growth. Keeping in view the excellent performance during the year, CWC declared a dividend of 30 per cent second time in a row.

The CWC is also exploring several new avenues in the fields of warehouse receipt financing and warehousing and logistics consultancy.

It also intends to participate in the mega Food Park and national horticulture mission schemes and undertake development of cold chain infrastructure and terminal markets. (ANI)