CONCOR signs MoU with PSA Mesa supply chain, shares trade flat

Shares of Container Corporation of India Ltd (CONCOR) has signed a Memorandum of Understanding (MoU) with PSA Mesa Supply Chain Pte for offering cost-effective logistics solutions to its customers.

In a filing to the stock exchanges on Thursday, the state-owned logistics services provider said that it signed the MoU with PSA Mesa Supply Chain in New Delhi for providing seamless and cost-effective end-to-end logistics services to its customers across India.

“This strategic partnership aims to leverage the strengths of both organisations’ respective infrastructure and experience to enhance the ‘ease of doing business,” CONCOR said.

PSA Mesa is a wholly owned subsidiary of PSA International, a global port operator. PSA Mesa operates four maritime container terminals and two container freight stations in India, offering integrated and port-centric supply chain solutions through its business arm, PSA BDP.

Previously, the Railway Ministry public sector undertaking announced its provisional updates for the quarter and financial year ending March 31, 2024. The firm reported that it had achieved a year-on-year increase of 8.23% in total physical volume handled for the financial year 2023-24 (FY24). CONCOR’s total volume of 12,44,798 twenty-feet equivalent units (TEUs) for Q4FY24, marking an increase of 11.24% quarter-on-quarter.

CONCOR, incorporated in March 1988, has a nationwide presence with operations spanning over 60 container terminals. Beyond rail transportation, the company has diversified its portfolio to cover the management of ports, air cargo complexes, and establishment of cold-chain infrastructure.

Shares of Container Corporation of India were trading flat at ₹924.85 apiece, up 0.08%, on the NSE at 12:57 pm.

The stock has gained around 54% in the past year and nearly 11% in the last one month.