Rail Vikas Nigam Limited has formed two joint ventures (JVs) for the construction of multi-modal logistics parks across India under the Bharatmala Pariyojana.
In September 2021, the state-owned company entered into an MoU with the National Highways Authority of India (NHAI) in connection with the construction of such logistics parks.
"It is hereby informed that in this connection, Rail Vikas Nigam Limited (RVNL) has formed two JVs viz., BENGALURU MMLP PRIVATE LIMITED and CHENNAI MMLP PRIVATE LIMITED," Rail Vikas Nigam Limited said in a stock exchange filing on Friday.
This comes on the backdrop when the government's focus is on improving the efficiency in the movement of cargo across the country by bridging critical infrastructure gaps. The government aims to lower transportation costs by enabling seamless goods connectivity.
( With inputs from ANI )
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