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Home Uncategorized Agro Industries & Cashew Corporation Pay 3.76 Crore Dividend

Agro Industries & Cashew Corporation Pay 3.76 Crore Dividend

OMC Contributes 500 Crore to CMRF

Agro Industries & Cashew Corporation

Pay 3.76 Crore Dividend

Bhubaneswar: The Odisha Mining Corporation today contributed an amount of Rs 500 Crore to Odisha Chief Minister’s Relief Fund. Besides, The Odisha Agro Industries Corporation and Odisha Cashew Development Corporation today paid a dividend of Rs 3.76 Crore to State Government. Chief Minister Shri Naveen Patnaik graced the occasion on virtual platform. The Chief Minister thanked all the three corporations for this support during the pandemic.

While the Agro Industries Corporation paid an amount of Rs 3,29,76,362 at 30 percent of net profit for the year 2017-18, the Cashew Development Corporation paid a dividend of Rs 46,51,200 at 30 percent of net profit for the year 2018-19.

OAIC Chairman Shri Debashis Mohanty and OSCDC Chairman Shri Amarendra Mohanty handed over the cheques to Chief Secretary Shri Suresh Chandra Mohapatra for their respective corporations.

APC Shri Raj Kumar Sharma briefed on the activities of both corporations. It may be mentioned here that established in 1962, the OAIC has been making profits since 2015-16. It’s promoting farmers’ empowerment through farm mechanization in the state. Similarly, established in 1979, the OSCDC is making profits since 1995-96.

Agro Industries & Cashew Corporation
Pay 3.76 Crore Dividend

For the OMC, Chairman Shri Surendra Kumar handed over a cheque of Rs 500 Crore to Chief secretary Shri Suresh Chandra Mohapatra. Briefing on the activities of the OMC, he said that OMC made a growth of 5.42 percent during the last financial year despite the pandemic. The total mineral production last year was 17.12 million tons.

In the last Financial Year, OMC achieved a sales revenue of Rs 5592 Crore, which was 36.60 percent higher than the previous year. OMC aims to achieve 1 billion dollar revenue by next year.

The Corporation is also supporting many welfare programmes of the state. It is funding 10 dedicated Covid hospitals in 8 districts of the state.

Among others, Agriculture & Farmers Empowerment Minister Shri Arun Sahu, Secretary to CM (5T) Shri V.K. Pandian, Agriculture Secretary Shri S.K Vashisth, and officers of three corporations were present.

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