The Hindu Business Line : Concor to set up berths at Hazira, Ennore, Chennai — Aims at Rs 5,000-cr turnover by March 2009

BUOYED by the increase in traffic at ports, Container Corporation of India (Concor) is targeting an annual business of Rs 5,000 crore over the next three fiscals.

For 2004-05, it recorded a turnover of Rs 1,996.96 crore with a net profit of Rs 439.58 crore.

Concor is in the process of setting up container berths at Hazira, Ennore and Chennai ports and firming up its container procurement plans.

"We expect to achieve Rs 5,000 crore income from operations in the next three years, that is by March 2009," the Concor Managing Director, Mr Rakesh Mehrotra, told Business Line.

He added that the company expects a 20 per cent annual growth in volumes and financials.

"The third berth at JNPT (Jawaharlal Nehru Port Trust) is coming up. Moreover, traffic is picking up at Pipavav, Mundra and Vizag. Thus, there is enough growth happening, based on which we can achieve these targets," he added.

On wagon acquisition, Mr Mehrotra said that the company has acquired 1,700 high-speed wagons during the last 13 months and expects delivery of 1,400 more wagons during this year, the orders for which were placed earlier.

As for the current fiscal, the company is reviewing its requirements.

"Usually, we place orders for over 1,000 wagons every year. We would be finalising our requirement soon, based on growth at various ports," he said, adding that the company's fleet position was comfortable.

In April 2004, Concor had about 70 high-speed rakes, whereas in April 2005, the company has 109 high-speed rakes.

Additionally, other areas where Concor would increase its focus include "cold chain projects, automobile carrier project, more partnerships in port areas and enhancing business in third party logistics," he said.

International consulting assignments is another area where Concor is likely to venture.

"Pakistan and West Asian countries have shown interest in Concor taking up consulting assignments for them. We haven't yet finally decided on the issue though," he said.

On the auto carrier project, Concor is in talks with partners for ironing out "logistics issues". For transporting automobiles, Concor has got its designs approved from the Research Designs and Standards Organisation, Lucknow because covered wagons are required unlike flat wagons used for other containers.

With cost of steel moving northwards, these containers cost about 50 per cent more than flat wagons.

"We have had roadshows with automobile manufacturers and have received positive feedback," he said, adding, "We may rope in a strategic partner for rolling stock."

The company is also interested in increasing its participation in the air cargo logistics hub coming up at Nagpur.

"We would provide containerised rail services to the multi-modal air cargo complex in Nagpur," he said.

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