Central Warehousing Corp to monetise assets across India, sees over Rs 1,500 cr investment
MUMBAI: The Central Warehousing Corporation (CWC), under the administrative control of the Ministry of Consumer Affairs, Food and Public Distribution, is planning to monetise and modernise its warehouses across India under the National Monetisation plan.
The public sector enterprise engaged in the business of warehousing, logistics management and allied activities expects to attract investments worth over Rs 1,500 crore through this ambitious programme.
The plan involves development of these warehousing facilities across 80 key locations in the country through public-private partnership (PPP) under Design Build Finance Operate and Transfer (DBFOT) model for a period of 45 years to the concessionaire.
“We are monetising 54 sites across the country in the first stage and will add more than 20 to the pipeline in the next stage. We expect the entire process to bring in investments worth over Rs 1,500 crore that will help boost operational efficiencies, technology, innovation, and complete digitisation,” Amit Kumar Singh, MD, CWC, told ET.
CWC along with advisor Knight Frank India has invited bids for this nation-wide warehousing monetisation program and the entire process is expected to be completed by December end.
Under this plan, CWC will provide encumbrance free sites spread over 200 acres that would require no change of land use and clear title. These pre-approved warehousing sites are spread over 46 acres in tier I cities, around 72 acres in tier II cities and 81 acres in tier III towns.
The bidders are expected to have their financial year 2022-23 networth of not less than 50% of the cumulative estimated project cost of all the sites that the entity is bidding for.