Allcargo

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New Delhi, Feb 26 (UNI) Allcargo Global Logistics Ltd today said it has entered into a joint venture agreement with Container Corporation of India Ltd (CONCOR) for setting up of Container Freight Station (CFS) Inland Container Depot (ICD) at Dadri, Greater Noida in Uttar Pradesh for catering to the container traffic of North India.

The proposed venture will help both the Companies in achieving significant growth in their respective business genre by attracting high volumes of existing NCR LCL Cargo at Dadri CFS / ICD. and the venture is expected to commence operations by January 2009, said a statement.

The facility will be developed on area of 40,000 sq mtrs and will have the capacity to handle 84,000 teus pa.

CONCOR, is a Central Government Public Sector Undertaking under Ministry of Railways and is primarily engaged in Container Rail Transportation Business, ICD operations, warehousing and road transportation.

Allcargo said the rationale for setting up the proposed JVC emanates essentially from the strength of CONCOR as the premier logistics service provide in the country with its unbeatable network of ICD's and wagon infrastructure and Allcargo's strength in the business of LCL consolidation, FCL forwarding, CFS operations and its ability to facilitate / market ability is expected to attract significant volumes of existing NCR cargo.

''With this, the two Companies are looking forward to synergies their expertise in delivering world class services to their customers,'' the statement said.

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