In news– Reliance Industries Ltd (RIL) has been awarded the project to build India’s first multimodal logistics park (MMLP) in Chennai, Tamil Nadu.
About India’s first multimodal logistics park (MMLP)-
- MMLP will be spread over 184 acres and cost Rs 1,424 crore.
- The project will get adequate connecting infrastructure support through a special purpose vehicle (SPV) formed between central and state agencies..
- MMLP at Chennai which is strategically located 52 Km from Chennai Port, 80 Km from Ennore Por.
- It is estimated to cater to 7.17 Million Metric Tonne (MMT) cargo in a horizon period of 45 year.
- Moreover, it is one of the several flagship projects announced under the Bharatmala Project of the Ministry of Road Transport and Highways, which envisions the building of 35 such MMLPs.
- The Centre plans to build 15 of these within the next two years. Under the National Logistics Policy (NLP) and PM-GatiShakti, it wants to bring down logistics costs to under 10 per cent of the GDP in a bid to make exports competitive and supply chains more efficient.
- MMLPs will act as centres for freight aggregation and distribution, storage and warehousing, providing added incentives to logistics companies such as customs clearances.
- These parks will also facilitate intermodal transportation – roads, railways, and inland waterways, with the aim of strengthening and diversifying the logistics system.