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Container Corporation Shares Gain 2% on Signing MoU with IGL

NTPC Vidyut Vyapar Nigam Limited will also explore the possibility of setting up solar projects.

Shares of Container Corporation of India Limited were trading in the green and 2% higher on 21 November after the company had signed an MoU (memorandum of Understanding) with Indraprastha Gas Limited (IGL).

In its regulatory filing on 20 November, the company said that it had signed an MoU with IGL to explore the possibility of setting up LNG and LCNG infrastructure at the company’s terminals.

The company added, “This strategic partnership aims to revolutionise the logistics sector by replacing diesel with natural gas.”

The railway PSU (public sector undertaking) also said that initially, both LNG and LCNG would be installed at the Dadri (Gautam Budh Nagar) terminal of the company.

As a part of the MoU, both companies have also agreed to explore different possibilities for the transportation of LNG through railway rakes from LNG terminals near seaports to their desired locations within the country.

Sanjay Swarup, chairman and managing director of Container Corporation, said, “The company is dedicated to embracing innovative solutions that enhance operational efficiency and also align with our responsibility towards the environment.”

KK Chatiwal, Managing Director of IGL, said this is a significant step towards the company’s commitment to environmental sustainability.

At 11:57 am, the shares of Container Corporation were trading 0.28% higher at Rs 753.05 on NSE.

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