CONCOR and Indian Oil Join Forces for Sustainable Transportation: Exploring LNG as a Fuel and Petrochemical Logistics

February 2, 2024 Rail News

In a significant move towards sustainable and efficient transportation, Container Corporation of India Limited (CONCOR) and Indian Oil Corporation Limited (IOCL) have signed Memorandum of Understanding (MOU) to collaborate and mutually explore certain opportunities in areas for use of LNG as a fuel and in petrochemical & other container logistics requirements.

More Details:

Signing Ceremony Highlights:

The non-binding MoU was signed during a ceremony attended by Shri Sanjay Swarup,  CMD CONCOR, and Shri Sujoy Choudhary, Director (Planning & Business Development, Indian Oil. The signing took place on January 29, 2024, at CONCOR Bhawan in New Delhi. Shri Sanjay Bajpai, ED/SP, CONCOR, and Shri Sandeep Jain, ED/Gas, IOCL, represented their respective organisations.

Objective of the MoU:

  • The objective of this Non-Binding MOU is that Indian Oil and CONCOR to hold discussions and undertake various activities in furtherance of the purpose such as to collaborate upon and mutually explore certain opportunities in areas for use of LNG as a fuel and in petrochemical & other container logistics requirements.

  • The purpose is also to explore competitive and stable contract pricing at its existing / upcoming LNG Auto-stations across India.
  • This will generate the possibility of collaborating to create virtual storage units in CONCOR’s warehouses to keep Indian Oil’s petrochemical products at various CONCOR terminals.
  • Indian Oil and CONCOR will explore new business opportunities of supplying LNG through ISO containers using Railways & Multi Modal Logistics, utilisation of CONCOR’s Multi Modal Logistics Park (MMLP) at Paradip by IOCL for its Pet-chem rail dispatches and the possibility of logistics handling by CONCOR for a centralised PetChem warehouse of Indian Oil, which may come up in near future.

This strategic partnership between CONCOR and Indian Oil reflects a commitment to innovation and sustainability in the Indian transportation and logistics sector. Through joint exploration of LNG applications and container logistics, the collaboration sets the stage for transformative developments in the industry.

Source: CONCOR- Press Release | Images Credit: CONCOR