November 12, 2020: Due to commercial and business viability considerations, Container Corporation of India Ltd has decided to surrender / hand over its ICD, Mulund (NGSM) terminal of the Company w.e.f. 31.12.2020 which is built on the land taken on lease from the Railways.
As per the Company’s assessment, the above surrender / handover of the terminal to the Railways will not impact the business of the Company materially. The turnover from this terminal for FY 2019-20 was Rs.47.63 crores, net fixed assets deployed at this terminal was Rs.5.45 crores.
Source: Equity Bulls
