Signing Ceremony
was done in the august presence of Shri. Sanjay Swarup, CMD CONCOR, Shri
P.R.Parhi , Director (International Marketing& Operations) , Shri Manoj
Kumar Dubey ( Finance),Shri Ajit Kumar Panda Director (Project & Services),
Shri Mohammad Azhar Shams , Director (Domestic) , Shri Sujoy Choudhary, Director
(Planning & Business Development, Indian Oil) and senior officers of both
companies
The purpose of
this MOU is to facilitate discussions and cooperation between Indian Oil and
CONCOR in various areas. These include
exploring opportunities for using LNG as a fuel and addressing petrochemical
and other container logistics requirements. Additionally, the agreement aims to
establish competitive and stable pricing for contracts at existing and upcoming
LNG Auto stations across India.
Furthermore, the
MOU entails potential collaborations such as creating virtual storage units in
CONCOR’s warehouses to store Indian Oil’s petrochemical products at different
CONCOR terminals. Indian Oil and CONCOR will also explore new
business prospects like supplying LNG through ISO containers via Railways and
Multi-Modal Logistics. Moreover, the agreement includes utilizing CONCOR’s
Multi-Modal Logistics Park (MMLP) at Paradip for Indian Oil’s Pet-chem rail
dispatches and potential logistics handling by CONCOR for a centralized
Pet-Chem warehouse of Indian Oil, expected to be established in the near
future.
This collaboration
signifies a strategic initiative between two prominent entities in the
logistics and energy sectors, aiming to leverage each other’s strengths to
explore new avenues and enhance efficiency in the transportation and storage of
essential commodities like LNG and petrochemical products.