Inception of the Company
History
As part of its diversification activities, CWC developed a warehousing facility of Railway land along a Railway siding as a Pilot Project at Whitefield Goods Terminal at Bangalore after entering into an agreement with Indian Railway. This project started operation since February 2002 and resulted in attracting additional traffic to the Railways, improvement in customer service and an increase in the volumes of cargo handled by CWC. The success of this project led CWC to consider developing Railside Warehousing Complexes at other centers also throughout near identified Rail Terminals.
Ministry of Railway also in the meantime had identified land near various Railway Terminals for development of warehousing complexes with handling facilities in order to improve the utilization of the Railway facilities in the country and to give a boost to the transportation for meeting the logistics requirements of its customers with a view to improve the service.
Accordingly, a memorandum of understanding between the Ministry of Railways and Central Warehousing Corporation was signed on 20.12.2003 for development of warehousing complexes by CWC near 22 railway terminals to provide better service through total logistic solution to rail users, it was agreed that Railway administration will lease out land to CWC for said purpose.
To give a thrust to this line of activity it was decided to bring all the Railside Warehousing Complexes under the administrative control of a New Company which is to be a subsidiary company of CWC. Accordingly "Central Railside Warehouse Company Ltd" has been incorporated on 10.07.2007. Subsequently company received certificate of commencement of business under Section 149(3) of the Companies Act 1956 on 24.07.2007.