Concor to lease railway land in `35 bn deal for 35 years

State-owned Container Corporation of India (Concor) will lease the Indian Railway land for 35 years in an Rs.35 bn deal. It created 24 of its 64 inland container depots (ICDs) on that land by paying 99 per cent of the market value of the land in advance, in a development that may take off the biggest stumbling block to the intended privatisation of the largest rail hauler of containers in the country. Besides the long-term lease of land, Concor has additionally decided to give up two extra terminals that have been created on Railway land. The federal government has decided to privatise Concor by selling 30.8 per cent of its 54.8 per cent stake in the firm to a personal agency.