NEW DELHI: The strategic sale of Container Corporation of India (Concor) is not happening in the current fiscal as the railway land usage policy is yet to be finalised, a senior official said.

Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said it takes about a year from the date of issue of Expression of Interest (EoI) for the conclusion of any strategic sale.

For Concor, the post privatisation rail land usage policy is yet to be finalised by the Ministry of Railways and hence the EoI could not be issued.

Container Corp is not happening this year. From expression of interest to conclusion, it takes about nine months to one year. We were hoping that the expression of interest will be issued but that is linked to the land policy. As soon as we resolve that, we will move forward, Pandey told PTI.

The Container Corporation of India Ltd (Concor) has built terminals to house containers on land leased from the Indian Railways on a per container licence fee basis. On the other hand, terminals run by existing private container train operators are built on land purchased from the market.

Also, Concor currently gets land from the Indian Railways at a concessional rate as compared to other inter-modal operators, an arrangement that may have to be altered once the firm is privatised.