Bharat Heavy Electricals Ltd (BHEL) said on Monday it has signed an agreement with Container Corporation of India Ltd (CONCAR) to form a joint working group for setting up a rail-based logistics terminal at Haridwar.
The terminal will further be developed into a multi-modal-logistics-facility. BHEL thus makes a strategic entry into a new growth area.
In addition to meeting BHEL's own requirements, the terminal will also cater to a large number of industries located in the neighbouring State Infrastructure and Industrial Development Corporation of Uttarakhand Ltd (SIIDCUL) as well as other industrial clusters.
These industries stand to benefit immensely as the cost of rail transportation is significantly cheaper than transportation by road.
Moreover, BHEL's Haridwar plant is close to both the upcoming eastern and western dedicated freight corridors and advantageously placed to take benefit of these corridors in future, according to a statement.
BHEL has one of its largest manufacturing units at Haridwar since 1967. The state-owned company is pursuing various diversification initiatives for increasing non-coal businesses like solar, water, defence, aerospace, electricity storage solutions, e-mobility and railway electrification.
CONCOR under the Ministry of Railways has a network of 83 terminals located across the country and owns more than 300 rakes for container transportation.
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