New Delhi pushes for rapid sale of 30% of its shares in Concor

India’s government is looking to sell some 30% of its shares in rail operator Container Corp of India (Concor) by the end of this financial year.

AP Møller-Maersk (APMM) is being seen as a potential suitor, the Danish conglomerate pursuing an aggressive drive into integrated logistics offerings.

Concor, an offshoot of Indian Railways, is the largest container rail operator in the country, with a nationwide inland container depot (ICD) network.

According to industry sources, APMM has participated in a series of pre-bidding sessions held by the government officials leading the divestment.

Sources at Maersk (India) would not comment on any bidding interest, but a spokesperson told The Loadstar: “AP Møller-Maersk is in the process of transforming itself into an integrated container logistics and shipping company, and this means we are continuously looking at how we can effectively connect and simplify our customers’ supply chains.”

The privatisation of Concor was laid out in November 2019, with the New Delhi government intending to dilute its holding to 24% from its 54.8% majority ownership.

But a lack of clarity, and concerns around land licence fees to be settled with Indian Railways, became thorny issues for potential investors.

To allay those issues, the government announced a new land-leasing policy in September, hoping to drive investor sentiment and accelerate the long-delayed divestment.

Other serious contenders are believed to be Adani Group, DP World and PSA, all have a growing container-handling presence in India on the back of terminal networks and remain increasingly keen on end-to-end supply chains.