The government has approved the merger of Central Railside Warehouse Company (CRWC) with Central Warehousing Corporation (CWC), a move that will integrate similar functions of both the companies through a single administration and enable more efficient financial savings. will promote.
The merger is expected to be completed within eight months from the date of decision.
Official sources said that since both the organizations provide warehousing and handle transportation, the management expenditure of Rail Side Warehouse Complex will come down by Rs five crore in terms of salary, office rent and other administrative costs.
Post-merger, the capacity utilization of rail side warehouse complexes will also improve as there will be capacity for CWC to store other commodities apart from cement, fertilisers, sugar, salt and soda which are currently being stored.
Also, this decision will facilitate setting up of at least 50 more rail-side warehouses near goods-shed locations. This is likely to create employment opportunities equivalent to 36,500 man-days for skilled workers and 9,12,500 man-days for unskilled workers.
CWC is a mini-ratna public sector undertaking established in 1957 for the incorporation and regulation of Warehousing Corporation for the purpose of storage of agricultural produce and certain other commodities notified by the Centre. It is a profit making entity with an authorized capital of Rs 100 crore and a paid-up capital of Rs 68.02 crore.