NYK Line (India) and CONCOR to Establish Joint Venture
May 15, 2009
NYK Line (India) Ltd., a wholly owned subsidiary of NYK Line, has signed a memorandum of understanding with the Container Corporation of India Ltd. (CONCOR) to establish a joint venture for the transport of automobiles over rail. Both companies will have a 50 percent stake in the new venture.
Trial transport from Delhi and Chennai will be followed by services from three other major areas (i.e., north, south, and west). The eventual goal is for rail transport for automobiles to occur through use of auto racks, but for the time being, the automobiles will be loaded into containers. One container can accommodate five to six small cars or four medium-size cars, and up to 45 containers can be hauled at a time.