CONCOR to invest Rs 8,000 crore in the next 5 years

CONCOR to invest Rs 8,000 crore in the next 5 years

Post By : News Desk
Post Date : May 12, 2019
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Container Corporation of India (CONCOR) is bullish on developing its network of dry ports and distribution logistics centres across India. The state-owned company is planning to invest a whopping Rs 8,000 crore in the next five years to expand the company’s service network.

Speaking at an event, V Kalyana Rama, Chairman & Managing Director, CONCOR said, “We are coming up with 20 distribution logistics centres and 100 dry ports. We are already operating 83 (dry ports) and we will make it 100. The 20 distribution logistics centres will be connected to 100 (dry ports). Total investment in the next five years will be Rs 6,000-Rs 8,000 crores.”

The Navratna Company has a plan to pump up its capital expenditure to Rs 1,000 crore in the present financial year 2019-2020. In the previous financial year, the company had spent Rs 770 crore in its capital expenditure bracket. CONCOR is expecting a growth of around 10-12 per cent in the financial year 2019-20.

Presently, CONCOR operates the network of inland container depots and container freight stations on pan India basis. In the recent past, the company has expanded its services and brought the management of ports, air cargo complexes and cold-chain services in its ambit.                      

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