NHAI Inks Agreement to Develop Multi Modal Logistics Park at Bengaluru
The first phase is expected to be completed in two years. MMLP will cater to about 30 million metric tonnes (MMT) cargo by the end of concession period of 45 years
New Delhi: National Highways Logistics Management Ltd (NHLML), a 100% owned company of NHAI signed an agreement for the development of Multi Modal Logistics Park (MMLP) at Bengaluru proposed to be developed under the Public Private Partnership (DBFOT) model at an estimated cost of Rs 1,770 crore, the agreement has been signed between Government SPV, Bengaluru MMLP Pvt. Ltd. & Concessionaire SPV M/s. PATH Bengaluru Logistics Park Pvt. Ltd.
The MMLP is being developed in an area of 400 acre at Muddelinganahalli in Bengaluru rural district in Karnataka. The project is poised to become the first and largest MMLP ever implemented in the country under the PM Gati Shakti National Master Plan.Read Also : NSIC organises 2nd India-Taiwan SME Cooperation Forum
To facilitate seamless logistics movement, the site is strategically located adjacent to the upcoming KIADB industrial area on East side, abutting the NH 648, Dabbaspet to Hosur as well as Satellite Town Ring Road on North side and Bengaluru – Hubli – Mumbai rail line on South side. Bengaluru MMLP is located at a distance of 58 km from Bengaluru Airport and 48 km from Bengaluru city railway station.
The MMLP will be developed in three phases. The first phase is expected to be completed in two years. MMLP will cater to about 30 million metric tonnes (MMT) cargo by the end of concession period of 45 years and will give huge boost to the industrial zones in the catchment region such as Bengaluru and Tumkur.Read Also : REC signs loan agreement with RUMSL
A Government SPV is incorporated between National Highways Logistics Management Ltd. (NHLML), Rail Vikas Nigam Limited (RVNL) amd Karnataka Industrial Area Development Board (KIADB).
Development of MMLP is a key initiative of the Government of India to improve the country's freight logistics sector by enabling efficient inter-modal freight movement to lower overall freight costs and time, provide efficient warehousing, improve tracking and traceability of consignments thereby enhancing the efficiency of the Indian logistics sector.Read Also : Day 2 at CPSEs Roundtable & Exhibition 2023: CVO visited GAIL stall
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