CONCOR, BHEL sign agreement to set up rail-based logistics terminal

Container Corporation of India (CONCOR) and Bharat Heavy Electricals Ltd (BHEL) have signed a pact to set up rail-based logistics terminal in Haridwar, Uttarakhand.

According to CONCOR, this would be BHEL’s strategic entry into a new growth area and this terminal would soon be developed into a multi-modal logistics facility.

In a statement, it said: “CONCOR and BHEL have signed MoU (memorandum of undertaking) and are moving ahead for jointly setting up rail-based logistic terminal at Haridwar to leverage upon BHEL’s strategic location and CONCOR’s expertise in logistics.”

Apart from meeting BHEL’s own requirements, the terminal would cater to the large number of industries as well as other nearby industrial clusters. These industries would benefit as the cost of rail transportation is significantly cheaper than transportation by road.

Image Credit : content.indiainfoline.com

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