NCMSL launches Rs. 300cr warehouses

Mumbai : NCMSL launches Rs. 300cr warehouses The National Collateral Management Services (NCMSL), which is one among the leading warehousing facilities providers, has decided to set up 45 cold chain and warehousing facilities across 12 states entailing an investment of Rs. 300cr. For meeting the funding requirement the company has decided to raise Rs. 101.75cr as equity investment from the India Agri Business Fund promoted by Robobank Private Equity Fund, IFC, IFFCO, Karur Vysya Bank, among others.

The company has already initiated the process of acquiring land and expects to complete the project in the next two years after which its total warehousing capacity will go up to 16 lakh tons from the current 10 lakh tons. There are tremendous opportunities in the warehousing space as there is an estimated shortage of 21 million tons storage capacity and with the fresh investment the IFFCO's holding in NCMSL will go up to 21 percent from the current 13 percent, said Director, IFFCO, G N Saxena, adding that the country produces about 155 million tons of agriculture products but has warehousing capacity for just 70 million tons and investment by corporate in the sector is crucial as one cannot expect the government agencies to bridge such a huge gap in the demand and supply of cold chain and warehousing facilities in the country.