+
Government to invite EoI for Concor privatisation
PORTS & SHIPPING

Government to invite EoI for Concor privatisation

The government will soon invite expressions of interest (EoI) or preliminary bids for the privatisation of Container Corporation of India (Concor). The Concor bid document is virtually complete and needs to receive permission from the ‘Alternative Mechanism’ which is effectively a group of important Cabinet ministers. “The Preliminary Information Memorandum inviting Expression of Interest for Concor will be released as soon as possible. If approved, it should be released this month, according to an official statement.

Out of the 54.80% government stock, the Cabinet approved the strategic sale of a 30.8% share in Concor in November 2019 along with managerial control. After the sell-off, the government will still own a 24% share, but without any voting rights. The share sale, however, was on hold while investors sought information on the train site lease strategy and licensing costs. A revised policy that allows for the long-term lease of railway land for cargo-related activities for up to 35 years at a rate of 1.5% of the land's market value per year was authorised by the Union Cabinet in September.

Once the strategic sale of Concor is complete, financial bids from prospective investors will start to come in for the following fiscal year. Concor, a Navratna PSU under the railways ministry, specialises in container transportation and logistics. As of March 2022, it had 61 container terminals and 1,359 employees. The government launched roadshows for Concor in October of last year to determine investor interest.

The government will soon invite expressions of interest (EoI) or preliminary bids for the privatisation of Container Corporation of India (Concor). The Concor bid document is virtually complete and needs to receive permission from the ‘Alternative Mechanism’ which is effectively a group of important Cabinet ministers. “The Preliminary Information Memorandum inviting Expression of Interest for Concor will be released as soon as possible. If approved, it should be released this month, according to an official statement. Out of the 54.80% government stock, the Cabinet approved the strategic sale of a 30.8% share in Concor in November 2019 along with managerial control. After the sell-off, the government will still own a 24% share, but without any voting rights. The share sale, however, was on hold while investors sought information on the train site lease strategy and licensing costs. A revised policy that allows for the long-term lease of railway land for cargo-related activities for up to 35 years at a rate of 1.5% of the land's market value per year was authorised by the Union Cabinet in September. Once the strategic sale of Concor is complete, financial bids from prospective investors will start to come in for the following fiscal year. Concor, a Navratna PSU under the railways ministry, specialises in container transportation and logistics. As of March 2022, it had 61 container terminals and 1,359 employees. The government launched roadshows for Concor in October of last year to determine investor interest.

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?