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Sep 20 – National Highways Logistics Management Ltd (NHLML), an NHAI subsidiary, has agreed to build the Multi Modal Logistics Park (MMLP) near Bengaluru at a cost of Rs 1,770 crore.
According to an official statement issued on Monday, the project, which will be created using the public-private partnership model, is on track to become the country’s first and largest MMLP under the PM Gati Shakti National Master Plan.
Bengaluru MMLP Pvt Ltd, a government Special Purpose Vehicle (SPV), and concessionaire SPV M/s PATH Bengaluru Logistics Park Pvt Ltd inked the deal.
According to the announcement, a government SPV was formed by NHLML, Rail Vikas Nigam Ltd, and Karnataka Industrial Area Development Board.
According to the announcement, the MMLP will be erected in three phases on 400 acres near Muddalinganahalli in Bengaluru’s rural district.
The first phase is projected to be completed in two years, with the MMLP catering to about 30 million metric tonnes of cargo by the end of the 45-year concession tenure.
According to the statement, the development of MMLP is a key initiative of the central government 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, and improve consignment tracking and traceability.
Bengaluru MMLP is 58 kilometres from the airport and 48 km from the city railway station.