CONCOR signs MoU with Russian Railways Logistics

Container Corporation of India Limited (CONCOR) and joint stock company-Russian Railways Logistics has executed a Memorandum of Understanding (MoU) for co-operation and collaboration in promoting intermodal transportation of cargo over International North-South Transport Corridor (INSTC).

This service agreement gives a broader responsibility for transporting the cargo from India to Russia and vice-versa under a single invoice. This seamless transportation will be beneficial to both the exporters and importers in India and Russia. It will further lead to a reduction in transit time and transportation cost, as compared to the existing transportation via Suez Canal.

CONCOR is an undisputed market leader in containerised rail transportation in India with its largest network of 84 ICDs/CFS in our country. M/s Joint Stock Company, Russian Railways Logistics is the largest multimodal logistics operator in Russia and CIS countries, which are successfully operating multimodal transportation in these areas. This association is expected to accelerate the seamless cargo movement between India and Russia, with greater economic movement.

On Thursday, the stock of CONCOR opened at Rs 511.90, down from its previous close of Rs 515.60. During the morning session, it managed to touch the level of Rs 520.65.