Phase I development is targeted within two years, by 2025, leading to commercial operations. Total cost of the project under public-private partnership (PPP) mode is estimated at Rs 1,424 crore, the ministry said. The 184.27-acre park, awarded by a bidding process, is estimated to cater to 7.17...
economictimes.indiatimes.com
Reliance Industries has bagged the contract to set up the country's first multimodal
logistics park (
MMLP) in
Chennai. The proposed state-of-the-art freight-handling facility, with access to various modes of transport, will be developed in three phases, with estimated developer investment of ₹783 crore, the roads, transport and highways ministry said in a statement on Friday.
Phase I development is targeted within two years, by 2025, leading to commercial operations. Total cost of the project under public-private partnership (PPP) mode is estimated at ₹1,424 crore, the ministry said. The 184.27-acre park, awarded by a bidding process, is estimated to cater to 7.17 million metric tonnes of cargo over the 45-year concession period.
This is the first of 35 MMLPs the transport ministry is developing under the PM
Gati Shakti National Master Plan to provide multimodal connectivity to various economic zones.
The ministry has prioritised 15 MMLPs in the next three years. "The
BangaloreMMLP is next in the pipeline; due date for bids (is) in November," Prakash Gaur, chief executive of National Highways Logistics Management (NHLML) told ET. "We plan to award it in December."
Nagpur, Indore Parks to be Awarded Next Year
Bids for the Nagpur MMLP will be called in December and the project awarded in January 2023, while the Indore MMLP will be awarded by March 2023 after bids are called in January, he said.
NHLML is a wholly owned special purpose vehicle (SPV) of National Highways Authority of India (NHAI), set up to develop the logistics parks. These multimodal hubs lay the foundation for development of large-scale infrastructure projects in PPP mode, for which both the central and state governments have come together.
For the Chennai MMLP, a government SPV has been formed among NHLML,
Rail Vikas Nigam, Chennai Port Authority and Tamil Nadu Industrial Development Corporation. It will provide four-lane national highway connectivity of 5.4 km at an estimated Rs 104 crore and a new rail siding of 10.5 km to the MMLP, costing Rs 217 crore.
Foreign Interest
Commenting on the profile of bidders in the upcoming MMLP bids, Gaur said, "We are getting a lot more enquiries in the upcoming MMLP bids than the one that closed just now. Interest is being expressed by firms based out of the US, Canada and Europe." Specialised global funds of the logistics sector have also been keen, Gaur said.
