CONCOR records notable performance in 2018-19

The Container Corporation of India Ltd (CONCOR) posted an 8.5 per cent increase in throughput at 3.83 million TEUs in the financial year ended March 31, 2019 against 3.53 million TEUs in the previous financial year, taking the total tonnage of cargo handled up by 7.25 per cent at 46.25 million tonnes (43.12 million tonnes), said its Chairman and Managing Director, Mr V. Kalyana Rama, while interacting with the media here, as per reports.

Cargo handled by rail went up 8.4 per cent to 43.32 million tonnes, the highest-ever in the history of the Corporation. There was a 30 per cent increase in double-stack trains from 2,303 to 3,000 trains in the year under review.

Mr Kalyana Rama said, “We are doing well and will cross Rs 7,000 crore turnover in the year ended March 2019 and will also be a billion-dollar company,” reports quoted. In 2017-18, CONCOR had registered a turnover of Rs 6,450 crore.

He further announced that the Corporation was introducing fixed tariff for the entire financial year from April. He said, “We want to assure our customers that they can depend on us throughout the year without worrying for any hike in tariff in the middle of the year. This will drive our volumes further.’’

Moreover, with its first distribution logistics node in Chennai commissioned recently, he announced, “Going forward, we will have 20 distributor nodes all over India with 50 million sq. ft of warehousing space.” The total number of terminals will also be increased from the present 83 to over 100 in next three years, as per reports.

It may be recalled that during the last fiscal, CONCOR had commissioned three terminals, at Bodhjungnagar (Tripura), Barhi (Haryana) and Krishnapatnam (Andhra Pradesh). It now has pan-India presence with 83 terminals.

With diversification to coastal shipping, Mr Kalyana Rama also announced that CONCOR “will start inland waterways service as well”