(MENAFN- KNN India)
NHAI Inks MoU To Develop Multi Modal Logistics Park In Bengaluru
Bengaluru, Sept 19 (KNN) The National Highways Logistics Management Ltd (NHLML), under the aegis of National Highways Authority of India has signed an agreement to develop a multi-modal logistics park (MMLP) in Bengaluru at an estimated cost of Rs 1,770 crore.
The proposed Multi Modal Logistics Park at Bengaluru will be developed under the Public Private Partnership (DBFOT) model. The MoU was signed by the Government SPV, Bengaluru MMLP Pvt. Ltd. & Concessionaire SPV M/s. PATH Bengaluru Logistics Park Pvt. Ltd.
The MMLP will be spread across 400 acre at Muddelinganahalli in Bengaluru rural. The project is poised to become the first and largest MMLP ever implemented in the country under the PM GatiShakti National Master Plan.
To facilitate seamless logistics movement, the site is strategically located adjacent to the upcoming Karnataka Industrial Area Development Board (KIADB) industrial area on its east, abutting NH (national highway) 648, Dabbaspet to Hosur, the Satellite Town Ring Road on the north, and Bengaluru-Hubli-Mumbai rail line on its south. 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. The logistics park will cater to about 30 million metric tonne (MMT) cargo by the end of concession period of 45 years and will give huge boost to industrial zones in the catchment region such as Bengaluru and Tumkur.
A Government SPV is incorporated between National Highways Logistics Management Ltd. (NHLML), Rail Vikas Nigam Limited (RVNL) and 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.
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