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Central Warehousing Corp allowed to set up overseas base

The government on Wednesday allowed Central Warehousing Corporation to build warehouses outside India and also to enter into joint ventures, establish subsidiaries and forge alliances.

The central government has also empowered state governments to appoint and remove managing director and chairman of State Warehousing Corporations under intimation to CWC, Parliamentary Affairs Minister Pramod Mahajan told reporters after the cabinet meeting which approved the Warehousing Corporations (Amendment) Bill 2001.

Under Section 11 of the Warehousing Corporations Act 1962, the CWC can acquire and build godowns and warehouses within the territory of India only, Mahajan said, adding that the amendment would enable CWC to expand its activities abroad.

CWC has also been empowered to appoint its own officials as directors on Board of SWCs, the minister added.

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