CONCOR (Container Corporation of India limited) a Navratna Company under Ministry of Railways and a market leader in multimodal logistics services in India and RZD Logistics (RZDL), a Russian Railways Company have agreed to jointly develop multimodal logistics services along INSTC (International North South Transport Corridor) route.
Container Corporation of India Ltd. (CONCOR), a major railway container operator in India and JSC RZD Logistics (RZDL), the biggest multi-modal logistics operator over the region of the CIS and Baltic countries signed a Memo of Understanding on 30.01.2019. The MoU purports 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 MoU was signed by the Chairman & Managing Director, CONCOR,Shri VKalyana Rama and CEO, RZD LogisticsMr.Viacheslav B Valentik. With signing of MoU, both the companies intend to set up joint enhancement of Indian-Russian logistical cooperation, developprospective projects related to container trans-shipment between the countries, designing new top-quality logistical services and aiming at further efficiency improvement of the INSTC route.
To sum up, CONCOR’s partnership with RZDLogistics Russia is a strategic move in terms of Eurasian multi-modal 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 Volumes of the import and export business between Russia and India havebeen constantly growing over the years. With this potential in business,both countries have interests in developing state-of-the-art logistical services including 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 MoUwill promote further cooperation and trust between the two nations.