India to seek private investment for food storage

India to seek private investment for food storage

"We have decided to create a special purpose vehicle to attract private sector participation in the creation of bulk storage facilities," Thomas said at a conference organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the department of food and public distribution here.

He said the special purpose vehicle would also act as a think tank to undertake studies on bulk handling and transportation requirements for foodgrain and creation of cold chain infrastructure.

Thomas said his ministry has proposed creation additional storage capacity for two million tonnes of foodstuffs through modern silos.

This will be part of about 15 million tonnes of new storage capacity being created under public entrepreneurs guarantee scheme of the Food Corporation of India.

The Central Warehousing Corporation is also creating 10,000 tonnes of temperature control storage facilities on pilot basis, Thomas said.