CONCOR and Joint Stock Company, Russian Railways Logistics have executed a Memorandum of Understanding for cooperation and collaboration in promoting intermodal transportation of cargo over the International North-South Transport Corridor (INSTC). Pursuant to this MoU, both the organizations have signed the Service Agreement on 25 February 2020 at New Delhi.
This Service Agreement gives the broader responsibilities for transporting the cargo from India to Russia and vice-versa under a single invoice. This seamless transportation of containerized cargo will benefit both exporters and importers in India and Russia. It will also facilitate reduction in transit time and cost of transportation compared to the existing transportation via Suez Canal.
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