CONCOR Opts for Existing Lease Regime

21 May 2024 CW Team

The Container Corporation of India Ltd (CONCOR) has chosen to maintain its current land lease agreements with Indian Railways, foregoing the newly introduced liberal licensing policy. This policy, approved by the Union Cabinet, offers reduced lease charges of 1.5% of the land's market value compared to the existing 6% with annual escalation.

Switching to the new regime would require CONCOR to bid for the 26 terminals it operates on railway land. Despite having the right of first refusal if they are not the highest bidder, this introduces potential competition and uncertainties. Chairman and Managing Director V Kalyana Rama expressed concerns over the variables and risks in the bidding process, which includes terminal charges for railway wagon traffic and terminal access charges for non-railway wagon traffic. These factors could result in increased operational costs and negatively impact margins.

Currently, CONCOR pays around Rs 380-390 crore annually in land lease charges. By sticking with the existing policy, they aim to avoid the complications and potential financial strain associated with the new regime. The decision to continue with the current lease terms will be re-evaluated as they closely monitor the new policy's implications.

Real Estate

11 May 2026

Danube Launches Greenz Villa Community in Dubai

Danube Properties has launched Greenz by Danube, a fully furnished master villa community in Dubai, unveiled by H.E. Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance and Coexistence, at an event attended by over 7,000 investors and business leaders.Located near Dubai International Academic City and Dubai Silicon Oasis, the development marks Danube’s first large-scale integrated villa community and is positioned within one of Dubai’s emerging residential corridors.The project will comprise three and four-bedroom townhouses along with five-bedroom semi-detached and twin villas...

ABB Launches IE6 Motor for Hazardous Industrial Areas

ABB has introduced what it claims is the world’s first IE6 Hyper-Efficiency motor certified for hazardous industrial environments under ATEX and IECEx standards.The new Increased Safety motor is based on ABB’s synchronous reluctance (SynRM) technology and is designed without magnets or rare earth materials. According to the company, the motor reduces energy losses by up to 60 per cent compared to standard IE3 induction motors commonly used in hazardous areas.The motor is intended for use in industries such as chemicals, marine, oil and gas, pharmaceuticals and food and beverage, where expl..

Casagrand Launches 41-Acre Highcity Project in Chennai

Casagrand has launched Casagrand Highcity, a 41-acre integrated residential development on Chennai’s Outer Ring Road (ORR), marking the company’s largest residential project to date.The project will comprise over 4,000 two and three BHK apartments across four G+22 towers and is positioned as one of the largest organised residential developments in the ORR corridor.Located along Chennai’s emerging residential and infrastructure growth belt, the project benefits from connectivity to IT hubs including Navalur, Siruseri SIPCOT and Porur, as well as industrial clusters such as Sriperumbudur, ..