CONCOR signs MoU with Russian Logistic Company

Container Corporation of India (CONCOR) on 25 February 2020 signed a service agreement with Joint Stock Company, Russian Railways Logistics for a seamless cargo movement between India and Russia.

CONCOR and Joint Stock Company, Russian Railways Logistics executed a Memorandum of Understanding (MoU) for cooperation and collaboration in promoting intermodal transportatfon of cargo over the International North-South Transport Corridor (INSTC). Pursuant to this MoU, both the organizations have signed the service agreement on 25 February 2020 at New Delhi.

This service agreement gives broader responsibilities for transporting the cargo from India to Russia and vice-versa under a single invoice. This seamless transportation of containerized cargo will benefit both exporters and importers in India and Russia. It will also facilitate reduction in transit time and cost of transportation compared to the existing transportation via Suez Canal. This association is expected to pave way for a seamless cargo movement between India and Russia, with greater economic movement.

Joint Stock Company, Russian Railways Logistics is the largest multimodal logistics operator in Russia and CIS countries.

Shares of CONCOR were down 0.46% at Rs 513.25. The scrip traded in the range of Rs 520.65 and Rs 503.25 so far during the day today

CONCOR is engaged in transportation of containers (rail and road), and handling of containers. The firm is also engaged in the operation of logistics facilities, including dry ports, container freight stations and private freight terminals.

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