New Delhi [India], September 19 : National Highways Logistics Management, a fully owned company of NHAI signed an agreement for the development of a multi-modal logistics park in Bengaluru, proposed to be developed at an estimated cost of Rs 1,770 crore, an official release from Ministry of Road Transport and Highways said.
The agreement has been signed between the government special purpose vehicle, Bengaluru MMLP Pvt Ltd and Concessionaire SPV M/s. PATH Bengaluru Logistics Park Pvt Ltd.
The logistics park is being developed in an area of 400 acres at Muddelinganahalli in Bengaluru rural district in Karnataka. The project is poised to become the first and largest ever implemented in the country under the PM Gati Shakti National Master Plan.
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 the North side and Bengaluru – Hubli – Mumbai rail line on South side.
Bengaluru multi-modal logistics park is located at a distance of 58 km from Bengaluru Airport and 48 km from Bengaluru city railway station.
The park 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 the concession period of 45 years and will give a huge boost to the industrial zones in the catchment region such as Bengaluru and Tumkur.
“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,” said the release.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor