CONCOR and IGL sign MoU to propel sustainable transportation using LNG Trucks

With an aim to promote sustainable and eco‐friendly transportation, Container Corporation of India Limited (CONCOR) and Indraprastha Gas Limited (IGL) have signed a Memorandum of Understanding (MoU) to explore the possibility of setting up LNG/LCNG infrastructure within the premise of CONCOR terminals.

This strategic partnership aims to revolutionize the logistics sector replacing diesel with natural gas. The MoU signifies the commitment of both CONCOR and IGL to reduce carbon emissions and promote a cleaner, greener future for the transportation industry. LNG trucks emit significantly lower levels of greenhouse gas emissions compared to conventional diesel trucks, contributing to a cleaner environment and aligning with global sustainability goals.

Key Highlights of the MoU:

1. LNG Infrastructure: Initially, both LNG and LCNG facilities shall be installed at Dadri (Gautam Budh Nagar) terminal of CONCOR.

2. CONCOR and IGL also agree to explore the possibility for transportation of LNG in future through railway rakes from LNG terminals near sea ports (e.g Dahej, Gujarat) to the desired locations within India.

3. Both entities shall jointly examine the possibility of using LNG fired engines in place of existing diesel fired engines, in various terminals of CONCOR.

4. Based on the experience of initially planned LNG facility at CONCOR Dadri terminal, replicating the same at other terminals in future may be taken up progressively.

Sh. Sanjay Swarup, Chairman & Managing Director CONCOR, added, "CONCOR is dedicated to embracing innovative solutions that not only enhance operational efficiency but also align with our responsibility towards the environment. The partnership with IGL for LNG trucks refueling is a testament to our commitment to a greener future."

Commenting on the partnership, Mr K K Chatiwal, Managing Director, IGL, stated, "This collaboration marks a significant step forward in our commitment to environmental sustainability. By creating required LNG infrastructure, we aim to set new benchmarks for eco‐friendly transportation in the industry."

Both companies are optimistic about the positive impact this collaboration will have on the logistics and transportation sector, fostering a paradigm shift towards sustainable practices. The signing of the MoU signifies a shared vision for a cleaner and more sustainable future in the realm of goods transportation.

Shares of Container Corporation of India Limited was last trading in BSE at Rs. 751.00 as compared to the previous close of Rs. 749.95. The total number of shares traded during the day was 8106 in over 719 trades.

The stock hit an intraday high of Rs. 758.65 and intraday low of 747.50. The net turnover during the day was Rs. 6105010.00.

Shares of Indraprastha Gas Limited was last trading in BSE at Rs. 385.25 as compared to the previous close of Rs. 388.05. The total number of shares traded during the day was 68423 in over 1298 trades.

The stock hit an intraday high of Rs. 390.95 and intraday low of 382.80. The net turnover during the day was Rs. 26366628.00.

Source : Equity Bulls

Keywords

ContainerCorporationofIndia INE111A01025 CONCOR IndraprasthaGas INE203G01027 IGL MoU