In news : A top-level inter-ministerial group has raised concerns over delays in the railway ministry’s land licence policy, resulting in roadblocks for the privatisation of Container Corporation of India (CONCOR).
Privatisation of CONCOR
- The committee, chaired by the Department of Investment and Public Asset Management (Dipam) secretary, is overseeing the CONCOR privatisation that was announced in November 2019.
- Gateway Distriparks Limited (GDL), a private container train operator is open to bid for a stake in Container Corporation of India’s (Concor) strategic divestment.
- The government is planning to sell 30.8% out of its 54.8% holding in Concor, a railway PSU, along with management control to a strategic buyer.
It is a Navratna Public Sector Undertaking under the Indian Ministry of Railways. Incorporated in March 1988 under the Companies Act, CONCOR commenced operations in November 1989 taking over an existing network of seven inland container depots (ICDs) from Indian Railways
The mission of the Company is-
- To join its community partners and stakeholders to make CONCOR a Company of outstanding quality.
- To provide responsive, cost effective, efficient and reliable logistics solutions to its customers through synergy with community partners and ensuring profitability and growth.
- To be the first choice for our customers, the Company remains firmly committed to its social responsibility and proves worthy of trust reposed in it.
- Set up and manage a network of Inland Container Depots and Container Freight Stations in the country.
- Make available the service of various agencies involved under one roof for the benefit of shippers.
- Provide close co-ordination among the various agencies.
- Reduce the cost to the users by efficient management and faster transport.
- Simplify procedures.
- Develop a computerized management information system. g) Handle domestic containers also wherever feasible.
Core Business of CONCOR
CONCOR operates three core businesses: cargo carrier; terminal operator, warehouse operator & Multi-Modal Logistics Parks (MMLPs) operation
CONCOR’s terminals provide a spectrum of facilities in terms of warehousing, container parking, repair facilities, and even office complexes. As CFS operator, CONCOR adds value to the logistics chain by offering value added services such as
- Transit warehousing for import and export cargo
- Bonded warehousing, enabling importers to store cargo and take partial deliveries, thereby deferring duty payment
- Less than Container Load (LCL) consolidation, and reworking of LCL cargo at nominated hubs
- Air cargo clearance using bonded trucking