Cabinet okays financial aid for cold storages | Bhubaneswar News
Bhubaneswar: State cabinet, under the leadership of chief minister Mohan Charan Majhi, on Wednesday approved funding for the ‘Financial Assistance to Cold Storages’ scheme, aiming to bolster cold storage infrastructure across Odisha.
The initiative seeks to establish cold storage facilities in all 58 sub-divisions of the state, with a focus on attracting private entrepreneurs to develop them in previously uncovered and financially viable locations. The scheme aims to boost farmers’ earnings through improved market access, value addition and processing of agricultural, horticultural and allied products, while reducing post-harvest losses and preventing distressed crop sales.
For new cold storages, SC/ST/transgender/women entrepreneurs and those from scheduled areas will receive 60% of fixed capital expenditure, capped at Rs 6.5 crore as capital investment subsidy. Other entrepreneurs will receive 50% of fixed capital expenditure, limited to Rs 6 crore. Govt will offer up to 6% interest subvention, working capital support and electricity subsidies. Non-functional cold storage facilities seeking revival may receive special financial assistance up to Rs 1.5 crore, assessed individually.
“The special financial assistance can be given only towards arrear electricity dues, arrear taxes, arrear bank dues, and such other statutory and non-statutory dues to be paid to govt or public utility service providers,” read the official statement on the revival of old cold storages. The cold storage units will connect with agriculture production clusters (APC), which will be established within their catchment areas.
For multiple applications in a single block, govt will select applicants requesting minimal financial assistance, according to the statement. The scheme, which has been allocated Rs 252 crore, will operate for five years from 2025-26 to 2029-30, official sources said.
The initiative seeks to establish cold storage facilities in all 58 sub-divisions of the state, with a focus on attracting private entrepreneurs to develop them in previously uncovered and financially viable locations. The scheme aims to boost farmers’ earnings through improved market access, value addition and processing of agricultural, horticultural and allied products, while reducing post-harvest losses and preventing distressed crop sales.
For new cold storages, SC/ST/transgender/women entrepreneurs and those from scheduled areas will receive 60% of fixed capital expenditure, capped at Rs 6.5 crore as capital investment subsidy. Other entrepreneurs will receive 50% of fixed capital expenditure, limited to Rs 6 crore. Govt will offer up to 6% interest subvention, working capital support and electricity subsidies. Non-functional cold storage facilities seeking revival may receive special financial assistance up to Rs 1.5 crore, assessed individually.
“The special financial assistance can be given only towards arrear electricity dues, arrear taxes, arrear bank dues, and such other statutory and non-statutory dues to be paid to govt or public utility service providers,” read the official statement on the revival of old cold storages. The cold storage units will connect with agriculture production clusters (APC), which will be established within their catchment areas.
For multiple applications in a single block, govt will select applicants requesting minimal financial assistance, according to the statement. The scheme, which has been allocated Rs 252 crore, will operate for five years from 2025-26 to 2029-30, official sources said.
