CONCOR plans ₹3,000-cr logistic hub at M'patnam port
In a major boost to port related activities in the region, the Container Corporation of India (CONCOR) has decided to become a partner in developing the Machilipatnam Port where it has proposed to set up ₹3,000-crore Integrated Logistics Manufacturing Zone (IMLZ) in Machilipatnam as a part of the port project, said official sources, claiming that in order to build the project on fast tracked basis, a Special Purpose Vehicle (SPV) is being formed for the project with 40 percent stake of Machilipatnam Urban Development Authority (MUDA) and 60 per cent with CONCOR. On this score, Chairman and Managing Director, CONCOR, V Kalyana Rama has already discussed plans with the empowered officials of the state administration including Special Chief Secretary, Infrastructure and Investment, Machilipatnam Port, R Karikal Valave.
