Wednesday, August 4, 2021

Cabinet approves merger of Central Railside Warehouse Company Ltd with Central Warehousing Corporation

Union Cabinet has approved merger and transfer all assets, liabilities, rights and obligations of Central Railside Warehouse Company Limited (RWC) with Central Warehousing Corporation (CWC). It will unify similar functions of both the companies through a single administration to promote efficiency, optimum capacity utilization, transparency, accountability, ensure financial savings and leverage railway siding for new warehousing capacities. It is estimated that management expenditure of RWCs will come down by five crore due to savings in the corporate office rent, salary of employees and other administrative costs. The capacity utilization of RWCs will also improve as there will be potential for CWC to store commodities other than commodities of cement, fertilizer, sugar, salt and soda being stored presently.

The merger will facilitate setting up of at least 50 more Railside warehouses near the goods-shed locations. This is likely to generate employment opportunities equivalent to over 36 thousand mandays for skilled workers and over 9.12 lakh mandays for unskilled workers. The merger is expected to be completed within eight months.

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