NCML opens 4,000-MT capacity cold storage unit in Guntur, AP

The Dollar Business Bureau

Agri-logistics firm NCML has launched the state-of-the-art Cold Storage facility in Guntur, Andhra Pradesh on Thursday. The 4,000-MT capacity warehouse has been constructed at a cost of Rs.9.45 crore. It can hold approximately one lakh bags, weighing around 40 kg each. The facility was inaugurated by former IAS officer and MD & CEO of the company Sanjay Kaul along with the Deputy CEO Unupom Kausik and others.

Sanjay Kaul said that the warehouse facility has been constructed to extend benefit to the chilli farmers of AP. This provides a platform for scientific storage practices to store their produce at the best quality standards. The facility is established in Guntur to create a healthy market environment for the chilli farmers to realise liquidity as well as competitive prices for their produce in the surrounding areas of Guntur.

The company has also organised a seminar ‘NCML India Commodity Connect 2016’ to discuss the welfare of the farmers, traders, warehousemen and other stakeholders in AP industry during the next few years. The industry trends, opportunities and challenges in the industry have been discussed in the daylong conference.

AP Government representatives, Spices Board of India, public and private sector bankers, cotton and chilli processors across the country and the cold storage owners have participated in the seminar.

NCML plans to hold 45 conferences in all parts of the country to discuss with the stakeholders how to enhance the scope of lending against warehouse receipts (WHRs) from Rs.50,000 crore to Rs.100,000 crore, Sanjay Kaul said.

NCML has invested over Rs.100 crore in building state-of-the-art warehouses in various parts of AP and Telangana including Guntur, Tadepalligudem, Adilabad, Nizamabad and Bhainsa. The company has associated with 60 banks and managed Rs.24,000-crore WHR loans against commodities stored in 11,000 warehouses in India as collateral manager, he further added.