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CONCOR plans to invest in rakes and containers


Container Corporation of India (Concor) plans to invest 4,500 crore in the next four years to add 270 rakes to its existing fleet of 343 rakes.

The State-owned company intends to serve the increasing domestic demand for cargo movement by containers using rail and coastal routes.

“This year, Concor plans to invest 1,000 crore on infrastructure, dry ports and IT systems,” said V Kalyana Rama, Chairman and Managing Director, Concor.

The State-owned organisation is exploring the use of containers to transport break-bulk cargoes like cement and foodgrains. “The use of containers for cargo movement within the domestic market is still minuscule,” he told newspersons.

Concor plans to add 4,000 containers to its existing strength of 24,000. They will be used only in the domestic market.

Last year, the company phased out 2,000 old containers and added 8,000. There is a plan to add 10,000 containers with an investment of around 300 crore, and a global tender will be floated shortly.

“Containers are imported mainly from China,” he said.


Read more on The Hindu BusinessLine.


Source: The Hindu BusinessLine


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