NEW DELHI: Privatisation-bound Container Corporation of India Ltd (Concor) will surrender at least

10 under-performing container depots built on land leased from the Indian Railways (IR) at concessional rates.

The move is aimed to reduce the financial burden as the Government gives finishing touches to a plan directing the state-run rail hauler of containers to buy land owned by IR, on which it has built close to half of its 86 inland container depots (ICDs).

Resolving the land issue is key to the planned privatisation of the Navratna PSU, to address allegations of transfer of IR land to a private entity at low rates.

The Government, which holds a 54.8 per cent stake in Concor, has decided to privatise it by selling a 30.8 per cent stake to a private company along with transfer of management control.

The 10 ICDs identified for surrendering are those that are not bringing in much business to Concor, a Government official briefed on the plan said.