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CONCOR signs MoU with Russian rail company to jointly develop multimodal logistics services along INSTC route

Logistic News - Published on Thu, 07 Feb 2019

Image Source: PSU Connect
The Container Corporation of India Ltd (CONCOR), a Navratna company under the Ministry of Railways and a market leader in container operations and multimodal logistics services in India, and JSC RZD Logistics (RZDL), a Russian rail company, have agreed to jointly develop multimodal logistics services along the International North South Transport Corridor (INSTC) route.

JSC RZD Logistics is the biggest multimodal logistics operator in the CIS and Baltic countries, highlighted a release.

The MoU, signed on January 30, 2019, aims to explore opportunities in developing joint logistical projects both in India and in Russia using international transport corridors, to include, in particular, the International North South Transport Corridor.

The agreement was inked by the Chairman and Managing Director of CONCOR, Mr V. Kalyana Rama, and the CEO of JSC RZD Logistics, Mr Viacheslav B. Valentik. With the signing of this MoU, both the companies intend to jointly enhance India-Russia logistical cooperation, develop prospective projects related to container transhipment between the countries, design new top-quality logistical services and aim at further improving efficiency on the INSTC route.

CONCOR’s partnership with JSC RZD Logistics is a strategic move in terms of Eurasian multimodal logistics markets. The strategic alliance would strive to design innovative new initiatives to reduce the total logistics cost of international trade, enhancing logistical efficiency and bilateral relations. The volume of import-export business between Russia and India has been constantly growing over the years. Given this potential, both countries have interests in developing state-of-the-art logistical services, including along the INSTC. With INSTC being a prospective project, which is already turning out to be one of the most important transport arteries of Eurasia, the signing of the MoU will promote further cooperation and trust between the two nations, emphasised a release.

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Posted By : Joykumar Irom on Thu, 07 Feb 2019
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