The Punjab government today said it will set up 10 silos at a project cost of Rs 1,681 crore.
A MoU in this regard was signed between state government and National Bank for Agriculture and Rural Development (NABARD) here today, an official spokesman said.
These silos will have storing capacity of more than 5 lakh tonnes of foodgrains, he added.
The silos, which are scientific storage facilities, will be constructed in consultation with the NABCONS, Nabard's consultancy service.
The total cost of the project is Rs 1,681 crore which will be set up in phases.
"For the construction in the first phase, an amount of Rs 210 crore has been sanctioned. The locations for setting up of the silos have already been identified by the state food department," he said.
The construction of silos will be completed by March 2016, he added.
