North India’s first liquefied natural gas (LNG) pump will be opened in a fortnight by state run oil refiner Indian Oil Corporation Ltd at the multi modal logistics park in Kathuwas run by Container Corporation of India Ltd, helping the state-run rail hauler deploy LNG trucks on the first mile, last mile (FMLM) business, a top official has said.
“The first LNG pump in North India will be commissioned in mid-November at MMLP Kathuwas. In North India, we are constrained; we cannot deploy LNG trucks because there are no LNG fuel pumps,” Sanjay Swarup, Chairman and Managing Director, told analysts during a post second quarter financial results conference call on 30 October.
CONCOR, according to Swarup, has become strong in the first mile, last mile space. “We have 130 LNG trucks for FMLM and 200 more are being procured,” he said.
“In the current financial year, we are targeting 50 percent of the business that we are giving should be on the first mile, last mile. At present, on a pan India basis, we are able to achieve around 27-30 percent in the first half of FY25. We are continuously working to improve and achieve the target of 50 percent. In the next financial year, we will set a target of 80 percent from FMLM,” Swarup stated.
CONCOR said its revenue from FMLM rose by 35 percent in the first six months of the current fiscal.
“We are getting very good margins from this business,” Swarup added.
(source: ET Infra)