Concor inks MoU with BPIPL to operate terminal in Gujarat

Container Corporation of India (Concor) announced that it has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port in Gujarat.

Under the terms of the MoU, Concor will act as the container terminal operator. It will be responsible for the operation, management, and marketing of the container terminal. This marks a significant strategic move for Concor as it ventures into port operations, aligning with its vision of forward integration. The detailed terms & conditions for the agreement are being finalised.

This port facility is expected to play a crucial role in catering to the logistics needs of Central Gujarat, the Dholera Industrial Belt, and even extend services to customers in the National Capital Region (NCR).

BPIPL has already executed an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the development of this port infrastructure. Under the agreement, 235 hectares of land has been allotted to BPIPL on a 30-year lease, with a provision for future expansion by an additional 250 hectares.

Container Corporation of India (CONCOR) is engaged in the business of providing inland transportation of containers by rail. It also covers the management of ports and air cargo complexes and establishes cold chains.

The company has reported 3.24% rise in consolidated net profit to Rs 266.54 crore on a 2.40% rise in revenue from operations to Rs 2,153.63 crore in Q1 FY26 over Q1 FY25.

The counter rose 0.55% to Rs 544.70 on the BSE.

Powered by Capital Market - Live News