Concor enters into agreement with Krishnapatnam Port

Posted By: Religare
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Concor enters into agreement with Krishnapatnam Port
Container Corporation of India (Concor), a state run entity, has announced that it has entered into an agreement with the Krishnapatnam Port for developing rail infrastructure at the port terminal and provide seamless movement of container traffic from the port to the hinterland.

The terminal is likely to get operational in a month, after it ties up with shipping lines that can call on the port to lift and drop containers. The port will provide adequate facilities and infrastructure for storage and operation of railway rakes and containers at its premises.

"Krishnapatnam Port and Concor will jointly develop the required rail infrastructure to cater to the growing container movement after the container terminal at Krishnapatnam Port goes operational in a month," Krishnapatnam Port CEO Anil Kumar said.

The two parties are also considering the development of a container freight station (CFS) at the port and inland container depots (ICD). Concor has dedicated the next six months to do a feasibility study on the need for CFS and although the company has identified the land that could be used, it is only after the terminal has been constructed that they'll turn their attention to the issue of the CFS.

Concor currently has a surplus of INR 20 billion and intends to expand its operations in Sri Lanka and Bangladesh. The company has been in talks with Bangladesh for the past few years but nothing concrete has come out of those discussions.

View: A government owned near monopoly. This stocl should be followed as news reports are stating that the government is planning to divest its stake in the company.   

Read more about: bse, concor, logistics, nse, infrastructure
Story first published: Wednesday, July 6, 2011, 10:31 [IST]
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