Container Corporation of India Ltd has awarded RITES Ltd a contract for Rs 364.56 crore, the railway consultancy business announced on Thursday. For a period of ten years, the order governs the operation and maintenance of shunting locomotives.
In a regulatory statement, RITES stated it had “acquired a deal for operation and maintenance of…shunting locomotives for a term of ten years from Container Corporation of India Ltd for Rs 364.56 crore.”
RITES is a government-owned company that is a major participant in the transportation consulting and engineering industry, with a wide range of services and a global footprint.
CONCOR (Container Corporation of India Ltd.) was founded in March 1988 under the Companies Act and commenced operations in November 1989, taking over the Indian Railways’ existing network of seven interconnecting containers (ICDs).
With 61 ICDs/CFSs, CONCOR has India’s biggest network of ICDs/CFSs (59 terminals and 2 strategic tie-ups). In addition to providing interior rail transportation for containers, its services have expanded to encompass port management, air cargo complexes, and cold-chain establishment.