Last month, the Ministry of Roads, Transport, and Highways went on to sign a contract with Reliance Industries (RIL) for setting up India’s first-ever multi-modal logistic park, commonly known as MMLPs, in Chennai. It invested Rs. 788.52 crores in this promising project.
These multimodal logistics parks are expected to act as hubs for freight activities, including aggregation, distribution, storage, and warehousing. It is also intended to incentivize logistics companies involved in customs clearance. From facilitating intermodal transportation via roads, railways, and inland waterways to diversifying the logistics network, these parks are said to help India create its own niche in the logistics sector.
These three new MMLPs are to be set up in Indore, Nagpur, and Bangalore, spreading over 230 acres, 400 acres, and 300 acres, respectively. The National Highways Logistics Management Ltd. (NHLM) is all set to invest Rs 758 crore, Rs 600 crore, and Rs 936 crore, respectively, in this project.
When asked about their future prospects, the officials said, “We are well on track to hand over 4 MMLPs this year to developers as targeted. We are targeting five parks next fiscal year: Coimbatore, Hyderabad, Pune, and Anantpur. We will complete the DPR process for these four parks by March 2023.”