- By Imran Zafar
- Tue, 19 Sep 2023 04:07 PM (IST)
- Source:JND
The Ministry of Road Transport and Highways announced that a multi-modal logistics park (MMLP) will be developed in Bengaluru at a cost of Rs 1,770 crore. According to the release by the ministry, the park will be the first and largest of its kind in the country developed under the PM Gati Shakti National Master Plan.
The MMPL will be spread over 400 acres of land at Muddelinganahalli in Bengaluru rural district. It will be connected to the upcoming KIADB industrial area, the NH 648, the Satellite Town Ring Road and the Bengaluru-Hubli-Mumbai rail line. It will also be close to the Bengaluru airport and city railway station.
The project will be developed in three phases, with the first phase expected to be completed in two years. It will cater to about 30 million metric tonnes of cargo by the end of the concession period of 45 years. It will provide efficient warehousing, international freight movement, tracking and traceability of consignments and lower freight costs and time.
The agreement for the park's development was signed between the government special purpose vehicle, Bengaluru MMPL Pvt Ltd and Concessionaire SPV M/s PATH Bengaluru Logistics Park Pvt Ltd. The implementing agency for the project is National Highways Logistics Management, a fully-owned company of the National Highway Authority of India (NHAI).
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The development of MMLP is a key initiative of the government to improve the country’s freight logistics sector and enhance the efficiency of the Indian logistics sector.
“Development of MMLP is a key initiative of the Government of India to improve the country's freight logistics sector by enabling efficient intermodal 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,” said the release by Ministry of Road Transport and Highways.