CONCOR to complete Rs.350 Crore Vizag Logistics Park by 2016

Visakhapatnam (VSKP), ECOR:  The Container Corporation of India Ltd. (CONCOR) is scheduled to complete the construction of its Rs.350 Crore multi-model logistics park in Visakhapatnam in the next two-and-a-half years.

The company would forge joint ventures with private parties for investment into the park, said Executive Director V. Kalyanarama.

Talking on the sidelines of Exim Conclave 2013, organised by the Confederation of Indian Industry, here, he said, “Vizag is one among the six parks where work is in progress. We are in the process of land acquisition for another nine parks. The overall investment in these parks is over Rs.6,000 crore.” he said. The logistics parks will provide infrastructure to transport cargo from rail to road and vice versa. The infrastructure includes warehousing, private freight terminals and value added services such as packaging, distribution and consolidation.

Dadri park

Concor has so far spent over Rs.750 crore on the parks under development. It is already operating a 250-acre fully-developed park in Dadri.

The corporation is also planning to develop two inland container depots in Krishnapatnam and Karimnagar shortly.

It already has four depots in the State, including two in Hyderabad.

Total freight handled in export and import trade in India is over 10 million TEUs (twenty-foot equivalent units) annually, of which Concor’s share is 2.5 million TEUs last year.

The volume handled by Concor was expected to grow by 10-12 per cent, said Mr. Kalyanarama.

Is in the process of land acquisition for another nine parks