Tenders have been finalized for two Multi Modal Logistic parks in Chennai and Indore though the project to cut costs on Logistics has been talked about for nearly six years.
Government of India had planned to commission at least four Multi Modal Logistics during the current financial year 2022-23 but could complete the process only in two parks. Of these, parks in Chennai and Indore have been awarded till now and the third in Bengaluru is expected by the end of March 2023. However there is no indication when the Bengaluru project will take off.
Reliance Industries Ltd (RIL) bagged the Chennai MMLP at an investment of Rs 783 crore while GR Infra projects will develop the Indore MMLP at Rs 758 crore. The Chennai Multi Modal Logistics park is coming up at the auto and telecommunication hub Sriperumpudur in South west Chennai.
The Government has plans to set up at least Seven Multi Modal Logistics parks with a private investment of rs Seven hundred crores each during the next financial year 2023-24 commencing from April 2023. The sanctioned port connectivity project would also be implemented this year in an effort to cut down Logistics costs.
India aims to reduce the logistics from 13-14 per cent of the country’s gross domestic product (GDP) to a single-digit according to the national logistics policy announced last year
This is being done through improved road and rail connectivity as well as setting up of Multi-Modal hubs to enable seamless movement of goods and commuters across modes of transport.
The parks currently being bid out are ranking high in the Logistics Efficiency Enhancement Program (LEEP) index due to their access to commercial hubs.
As many as 100 critical infrastructure gap projects have been prioritized for development during the next financial year 2023-24 and a sum of Rs 75,000 crore has been allocated for the purpose, under the Gati Shakti National master plan.