CONCOR to invest up to Rs 8,000 cr in next 5 yrs to develop dry ports, distribution logistic centres

State-owned Container Corporation of India (CONCOR) Thursday said it will pump in up to Rs 8,000 crore in the next five years to develop dry ports and distribution logistics centres across the country.

"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 crore," CONCOR Chairman and Managing Director V Kalyana Rama said during an event here.

Container Corporation of India is a navratna company under the Ministry of Railways.

CONCOR inaugurated its first distribution logistics centre at Ennore, Chennai, in Tamil Nadu in March.

"So, there will be around 120 centres which will be connected as a network to provide these distribution logistics services for entire India. We will be able to give some reduction in the logistics cost," he added.

The company, he said, is planning to line up Rs 1,000 crore as a capital expenditure in the current financial year.

"This year (financial year), we are planning (a capital expenditure) of Rs 1,000 crore. Last year, We spent Rs 770 crore," he added.

He further said the state-owned company is expecting a growth of around 10-12 per cent in the financial year 2019-20.

"Last fiscal, on the volume side, it (the growth) was around eight per cent, and on the financial side (topline), (it was) 12 per cent and bottom line, it was 21 per cent," the CMD said.

CONCOR commenced operations in 1989. It now has the network of 83 inland container depots and container freight stations. In addition to providing inland transport by rail for containers, it has also expanded to cover management of ports, air cargo complexes and establishing cold-chain, according to its website.