National Highways Logistics Management Ltd (NHLML), a wholly-owned subsidiary of NHAI, has signed an agreement for the development of Multi Modal Logistics Park (MMLP) at Bengaluru proposed to be developed under the Public Private Partnership (DBFOT) model at an estimated cost of Rs 1,770 crore.
The agreement has been signed between Government SPV, Bengaluru MMLP Pvt. Ltd. & Concessionaire SPV M/s. PATH Bengaluru Logistics Park Pvt. Ltd.
According to a press statement, The MMLP is being developed in an area of 400 acres at Muddelinganahalli in Bengaluru rural district in Karnataka.
Bengaluru MMLP is located at a distance of 58 km from Bengaluru Airport and 48 km from Bengaluru city railway station, a statement said.
The park will be developed in three phases
The MMLP 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.
A Government SPV is incorporated between National Highways Logistics Management Ltd. (NHLML), Rail Vikas Nigam Limited (RVNL) and Karnataka Industrial Area Development Board (KIADB).
What government of MMLP?
The Government of India is working on the development of MMLP to enhance the country’s freight logistics sector. The project aims to reduce costs and time spent on freight transportation by facilitating smoother transitions between different modes of transport.
It also plans to offer better warehousing options and improve the tracking of shipments, which will ultimately boost the overall efficiency of India’s logistics sector.