Container Corporation of India (CONCOR) and Bharat Heavy Electricals Ltd (BHEL) have entered into an agreement to set up rail-based logistics terminal in Haridwar, Uttarakhand.
This would be BHEL's strategic entry into a new growth area, CONCOR said and added that this terminal would soon be developed into a multi-modal logistics facility.
"CONCOR and BHEL have signed MoU (memorandum of undertaking) and are moving ahead for jointly setting up rail-based logistic terminal at Haridwar to leverage upon BHEL's strategic location and CONCOR's expertise in logistics," it said in a statement.
Besides meeting BHEL's own requirements, the terminal would cater to the large number of industries as well as other nearby industrial clusters.
These industries would benefit as the cost of rail transportation is significantly cheaper than transportation by road.
Moreover, the Haridwar plant is in close proximity to both the upcoming Eastern and Western Dedicated Freight Corridors and advantageously placed to take benefit of these in future, it said.