CONCOR Current Affairs - 2020

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Strategic Disinvestment of BPCL and 4 other PSUs

The Cabinet of PM Narendra Modi approved disinvestment of BPCL along with Shipping Corporation of India (SCI), Container Corporation of India (CONCOR), Tehri Hydro Development Corporation India Limited (THDCIL) and North Eastern Electric Power Corporation Limited (NEEPCO). The GoI has agreed to sell its stakes in the above PSUs

Highlights

The GoI plans to sell 53.3% of its stake of BPCL, 63.8% of SCI and 30.8% of CONCOR to strategic buyers. 74.2% of its stake with THDCIL and 100% of NEEPCO is to be sold to NTPC.

In the disinvestment process the Numaligarh Refinery Limited operating under BPCL is excluded.

Disinvestment plan

The Government had set a disinvestment target of 1.05 lakh crore rupees for the financial year 2019-20. So far, it has collected 17,364 crores as on November 18, 2019. The plan was announced in the Budget session of 2019.

Significance

Disinvestments are done to reduce the financial burdens on government due to inefficient PSUs. It helps to improve public finances. It also introduces market disciplines and competition that will help in depoliticizing non-essential services.

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Multi Modal Logistic Park inaugurated at Balli, Goa

Multi Modal Logistics Park at Balli Station near Madgaon in Goa was recently inaugurated. The part is located on Konkan Railway route. It has been set as per MoU entered between Konkan Railway & Container Corporation of India Ltd (CONCOR). It will benefit trade and industry from economic transport solutions and state of art facilities.

Key Facts

The facility is initially spread over 81,300 square meters with scope for expansion with traffic growth in future. It can handle both domestic and exim container traffic. In addition, it can also handle commodities transported by both open and covered wagons. It has 5000 square meters of Custom Bonded Warehousing space. It will also provide host of value added services like stuffing, repackaging etc.

Significance

The park from its economic transport solutions and state of the art facilities will benefit both trade and industry in Goa. It will generate additional source of revenue for Konkan Railway. The container depot at park will reduce time required to cover distance between JNPT port (Mumbai) and Goa via road in 30-40 hrs from 16 to 18 hrs. Thus, it will save time, along with cost of transportation and relieve congestion on road and fuel.

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