Collateral and commodity management solutions and services provider, National Bulk Handling Corporation Ltd (NBHC) aims to tie up with 10 banks by the end of this month, said Anil K Choudhary, managing director (MD) and chief executive officer (CEO) of NBHC, here today.
He said, "We currently work with 24 banks in the country and plan to rope in 10 more banks, as a part of our initiative to provide more liquidity to farmers."
The list ran from Hong Kong and Shanghai Banking Corporation (HSBC) to grameen banks in Madhya Pradesh and cooperative and regional rural banks.
This apart, the company was looking at expanding its number of warehouses from 297 to almost 400 over the next three to four years at an approximate investment of Rs 5000 crore with a storage capacity of about 20,000 to 25,000 ton each.
The new warehouses would scale up storage capacity from the current 1.8 million ton to about 5.6 million ton, over a subsequent period of five years. The warehouses would be mechanized and wired, with close circuit camera systems to allow clients to view their commodity. They would have grading, sorting and packaging facilities, said Choudhary. Companies had approached NBHC to use these warehouses, claimed Chaudhury.
Laboratories to do checking of commodities would cover 24 locations initially and upto 60 labs would be set up in four years.
"In the first stage we will have five NABL accredited laboratories, followed by 15-20 laboratories in the regional level and about 40 small cluster laboratories, established over the next three years", said Choudhary.
The company was present today in 18 states and aimed to start operations in Bihar by 2008, handling mainly maize and paddy amongst agro products. Its lending against warehouse receipts exceeded the target of Rs 5000 crore in the financial year(FY) 2008.
