Apeda to set up agro-container freight station on FACT's land.

The delay in getting the Centre's assistance has not deterred FACT in forging ahead with new projects for revenue generation.

With an emphasis on agro-related product exports, the fertiliser company is on the verge of establishing a container freight station with assistance from Agricultural & Processed Food Products Export Development Authority (Apeda).

The project investment will be to the tune of Rs. 38 crore, of which 90 per cent will be funded by Apeda. FACT's stake will be only 10 per cent plus the land, for which it has earmarked 25 acres in Udyogamandal, FACT’s Chairman and Managing Director Jaiveer Srivastava said.

The company's brand image with seven decades of service to farmers in the rural sector can be leveraged for the project. The proposal, which has been cleared by the Board, is now under the consideration of the Union Agriculture Ministry.

'FACT – being a public sector – can avail grant from Apeda up to 90 per cent of the capital investment and hence there will be no cash outflow,' Srivastava told Business Line during an interaction.


HBL